3.8 20-0643 Subject: Supplemental Funds For 6106-6108 Hilton Street.
From: Housing & Community Development Department
Recommendation: Adopt A Resolution Authorizing The Increase Of An Existing Acquisition And Conversion Loan To The Northern California Land Trust, Inc. By $213,737 For A Total Acquisition And Conversion Loan In An Amount Not To Exceed $2,613,737 For The 6106-6108 Hilton Street Anti-Displacement Affordable Housing Project, And Making California Environmental Quality Act Findings For This Action: On The October 6, 2020 City Council Agenda As A Consent Item
Conversion to What? This property is MLS Listed 8 Units @ $3,600.00.00. 8 Units. Is already Fully Upgraded... Gee, Looking at Google earth, and MLS Listing. Let's just say... Displacement of Residents, Completed before Upgraded. This is a Bargain to the Seller. Especially in this Market. Over valued. In 1 Year that Property will be worth so much less. -33%
Conversion to What? This property is MLS Listed 8 Units @ $3,600.00.00. 8 Units. Is already Fully Upgraded... Gee, Looking at Google earth, and MLS Listing. Let's just say... Displacement of Residents, Completed before Upgraded. This is a Bargain to the Seller. Especially in this Market. Over valued. In 1 Year that Property will be worth so much less. -33%