Non-profit group asks City for $2 million loan.
Tuesday night, the Santa Clarita City Council is set to
consider authorizing a loan to Mercy Housing California, a non-profit
development organization that specializes in affordable housing.
Mercy is asking the City for a loan of just over $2 million
plus $600,000 in developer fees, which they plan to use to purchase and
renovate the Hideaway apartments in Canyon Country.
Currently, 14 units in the complex are contracted as
affordable housing units, which place their rent at a lower rate for low income
Should the loan be approved, the complex renovation would yield
affordable housing status for all 67 units.
Also on the Council’s agenda Tuesday night is a motion to
finalize a temporary change to the Unified Development Code that will provide
for Planning Commission oversight of any modifications to buildings in Santa
Clarita that have been classified as historically significant.
A full report of the major issues before our City Council
will be available at Hometownstation.com shortly after they are decided.