An additional $8.2 million is needed to transform the former Islander Motel into affordable housing units
FREMONT – The city of Fremont has opened up its purse again to support the conversion of an old motel into affordable housing, potentially bringing the amount the city has loaned to the project to more than $13.8 million.
Before the most recent loan, the city had loaned a total of $13,295,000 to the developer, which was mostly from federal and state funding. Other funding sources for the project, which will cost over $100 million, include grants provided by Alameda County and the California Housing Accelerator program, according to RCD.“Due to high inflation, interest rate increases and impacts such as higher costs for insurance, RCD recently identified a funding gap of approximately $8.
“If they don’t get the full funding that they applied for, then this money will kick in to help close the gap,” Fremont Housing Manager Lucia Hughes said in an interview.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cap Metro Wants Its Pre-Pandemic Groove BackEverything at Cap Metro is in flux with new ridership, new leadership, and new routes.
Read more »
New Creed 3 Image Teases Complex Bond Between Donnie & New Villain DamianJonathan Majors' bad guy Damian looks decidedly unvillainous in a new image from Creed3
Read more »
NZD/USD: New Zealand Dollar grinds below 0.6200 despite Reserve Bank of New Zealand’s hawkish playNZD/USD: New Zealand Dollar grinds below 0.6200 despite Reserve Bank of New Zealand’s hawkish play – by anilpanchal7 NZDUSD RBNZ Fed RiskAppetite Macroeconomics
Read more »
N.J. Turnpike’s $10B widening project gets new opposition from New YorkersNew Yorkers who live with Holland Tunnel traffic joined Garden State opponents of the N.J. Turnpike Authority's $10.6 billion plan to widen the highway to the Holland Tunnel.
Read more »
Man and son charged in stabbing at NJ motel where police have responded thousands of timesNorth Bergen police responded to the motel 2,705 time between January 2020 and March 2022, an average of more than three per day.
Read more »
Can You Manifest Your Way to Good Skin?Beauty TikTok and a whole new crop of new brands seem to think so.
Read more »