EDA Fall Newsletter

FALL NEWSLETTER Page 5

Housing Authority

NSP Home for Sale

was listed for sale at a purchase price of $230,270 and the County received a total of 35 offers. The County will be selecting a buyer through a lottery open to the public on Septem- ber 23rd at the HACR’s office in Riverside. Down payment assistance and closing costs will be of- fered through this program at a maximum of 30%.

On September 30, 2014, the Board of Supervi- sors awarded the Housing Authority of the Coun- ty of Riverside (HACR) $241,000 in Neighbor- hood Stabilization Program (NSP3) funds for the rehabilitation of a single family home to be sold to a low and middle-income first-time home buyer. The home is comprised of three bed- rooms and two bathrooms and is located at 9411 Geordie Way, Jurupa Valley, CA 92509. This home is on a one acre lot on a mountain side with panoramic views of the city. Rehab on this home includes a new kitchen with granite countertops and energy efficient appliances, a new air-conditioning and heating unit, new lami- nate flooring and carpet in the bedrooms, a new solar system, and bathroom remodel. The home The Housing Authority of the County of Riverside as Housing Successor to the former Coachella Redevelopment Agency has achieved a major milestone by securing a Disposition and Devel- opment Agreement (DDA) with the Coachella Valley Housing Coalition (CVHC). The DDA se- cures an agreement with CVHC to develop 39 homes in the Tierra Bonita Subdivision in Coachella. The CVHC brings an established track record of providing innovative and attrac- tive design to its many affordable housing pro- jects in the area. The DDA will advance the goals of the HACR by providing affordable homeownership opportunities to low-income households. The new construction further ben- efits the community as it eliminates the attrac- tive nuisance created by the vacant lots within the partially built-out subdivision. The City of

Tierra Bonita

Coachella and CVHC have worked to include aesthetic elements that complement the existing architecture design. The homes include energy efficiencies, and range in size from 1400 to 1600 square feet. This highly anticipated devel- opment is expected to begin construction on its first phase of 13 homes in January 2016.