City Council Approves Tax-Exempt Bond Finance plan for Silvey Villas and Prospera at Homestead for Moderate Income Seniors and families
City Council Approves Tax-Exempt Bond Finance plan for Silvey Villas and Prospera at Homestead for Moderate Income Seniors and families
By Ben Edokpayi, Staff Writer
Wordcount 569
With Council Member Kevin Johnson absent, City Councilors voted for tax exempt bond issuance for two development projects that will provide more homes and apartments for the city’s growing senior population.
Silvey Villas, is one of two parts of an affordable housing obligation for the Homestead Development required by the Southwest Dixon Specific Plan. The Development Agreement (DA) for Homestead required that the master builder for Homestead to provide at least 131 . units as affordable to moderate income seniors and families. The DA required • A minimum number of units to be built as 69 for seniors and 62 high density units for families, all of which are to be income restricted to moderate income households.
At the other project Prospera at Homestead — 108 of the 180 units would be for families and all would be affordable to low and very low income households. These units would be contained in 6, three story structures. A club house is also included in this area. The family component of the project is called Prospera at Homestead • Silvey Villas at Homestead — 72 of the 180 units would be senior apartments and all would be affordable to low and very low income households. These units would be contained in single story structures and include a separate clubhouse. • In total, there will be a total of 17 buildings on these two lots, including the two clubhouses.
Before their votes Mayor Steve Bird said “These kinds of developments create a community for all and a good opportunity for seniors.”
The City’s Community Development Department will now
1. Conduct a Tax Equity and Fiscal Responsibility Act Hearing in consideration of the issuance of tax-exempt bond financing by the California Statewide Communities Development Authority for the benefit of Silvey Villas Partners, L.P., to provide financing for the acquisition, construction, improvement, and equipping of a 72-unit senior multifamily rental housing project generally known as Silvey Villas at Homestead Apartments.
2. Act on the resolution approving the issuance of Bonds by the California Statewide Communities Development Authority not to exceed $18,000,000, for the benefit of Silvey Villas Partners, L.P., to provide financing for the acquisition, construction, improvement, and equipping of a 72-unit senior multifamily rental housing project generally known as Silvey Villas at Homestead Apartments.
This is the lead in the Sunday October 23 Edition of the Dixon Tribune the newspaper of Record of Dixon, population 21000. The Tribune is the newspaper of record for the city of Dixon formerly known as Dickson. The picture shows the Reporter ( A BABJA and NABJ member) at a 30 minute sermon he presented at the Hope Christian Church, Cordelia just before Ressurection Sunday in 2019. The Reporter is the Pioneer Information Officer for the Cal-EPA-DTSC CalSafer and SCP Environmental protection Initiatives. While at DTSC the reporter facilitated two new state laws with the Secretary of State.
https://dtsc.ca.gov/2016/11/15/dtsc-webinar-focuses/
https://dtsc.ca.gov/2016/07/15/dtsc-begins-rulemaking/
https://dtsc.ca.gov/2016/12/30/new-regulations-for-brake-pads-sold-in-california/
More leads on the Environmental Protection Work at DTSC.
https://twitter.com/BenjaminEdokpa1/status/1583129947006128128?s=20&t=QzMYk1YDo6yOaxeMyG0dDQ
