St. Helena City Council Discusses $3.3 Million Housing Loan Amid Political Tensions
St. Helena Weighs Housing Loan, Water, Airs Political Feud
Patch
Image: Patch
The St. Helena City Council is set to review a $3.3 million loan for a 40-unit affordable housing project while also addressing water infrastructure updates and a political dispute involving recent leadership changes. The funding is crucial for state tax-credit financing applications.
- 01The proposed loan of $3.3 million aims to support a 40-unit affordable housing project at 0 Fountain St.
- 02The financing package includes a 57-year term at 3% interest and combines previous commitments of $1.1 million and $2.2 million.
- 03City officials emphasize the importance of this funding for the project's application for state tax-credit financing.
- 04The council will also receive updates on water production from the Louis Stralla Water Treatment Plant and Stonebridge Water Wells.
- 05A public dispute involving residents Michael Haley and Kelly Wheaton is expected to dominate discussions during the meeting.
Advertisement
In-Article Ad
The St. Helena City Council will convene to discuss a significant $3.3 million loan aimed at financing a 40-unit affordable housing development located at 0 Fountain St. This project, spearheaded by Our Town St. Helena and Burbank Housing, requires city assistance to strengthen its application for state tax-credit financing. The proposed financing package includes a 57-year loan at an interest rate of 3%, which combines a previous commitment of $1.1 million for development impact and water neutrality fees with an additional $2.2 million approved earlier. During the meeting, the council will also review updates on water production and delivery, specifically from the Louis Stralla Water Treatment Plant and the Stonebridge Water Wells. However, the public discourse is likely to be overshadowed by a political feud, highlighted by correspondence between local residents Michael Haley and Kelly Wheaton, which has recently come to light. The meeting is scheduled for 6 p.m. at Vintage Hall Board Room and will also be accessible online.
Advertisement
In-Article Ad
The approval of the loan could significantly increase the availability of affordable housing in St. Helena, addressing local housing shortages.
Advertisement
In-Article Ad
Reader Poll
Do you support the proposed $3.3 million loan for affordable housing in St. Helena?
Connecting to poll...
Read the original article
Visit the source for the complete story.