Show Your Support for Lavender Courtyard
Commentary by Rachel Iskow
As you may know, Mutual Housing purchased the land at 16th and F, the future home of the Sacramento region’s first LGBT welcoming senior affordable housing community.
We also have commitments of funding from some generous sources (see below).
However, our application to the State of California’s Cap and Trade program was not accepted for funding.
Thus far the state program has not committed any funds to a Sacramento affordable housing development, and we are advocating for changes to that program. To make up for that loss, we are seeking funds from foundations, as well as increased funding from the City of Sacramento.
Our new mayor is a strong affordable housing advocate, and Council member Steve Hansen continues to advise us and advocate for this important initiative.
We need to support Steve Hansen and his advocacy for LGBT welcoming senior housing. He should not be out there alone pushing the city to do more. We need to show our public support.
You can help with this by attending the 2017/18 Budget and Priorities Forum to be held in District 4 with Mayor Steinberg and Steve Hansen. Mayor Steinberg must hear that the community wants increased funding for Lavender Courtyard by Mutual Housing and that the City should help prevent displacement and homelessness of our LGBT elders.
The time and location:
Thursday, March 23, 5:30 – 7:00 pm. E. Claire Raley Studios for the Performing Arts, 2420 N Street, Studio 180
If you have any clubs, organizations or groups that can spread the word, that would be great!
Funding commitments in hand for Lavender Courtyard by Mutual Housing:
Construction period loan – Wells Fargo Bank: $11,618,000
15 year bond mortgage - Calif Community Reinvestment Corp: $700,000
City of Sacramento/SHRA: $2,778,000
Federal Home Loan Bank Through Wells Fargo Bank grant: $520,000
Gap: After we apply for and receive tax credits and arrange a tax credit investor, we will still need $6 million in perm financing.
Mutual Housing California
Building Communities for 25 Years
8001 Fruitridge Road, Suite A
Sacramento, CA 95820
916-453-8400 ext. 224