Fifth District Update_Jan 2020

 Developer submitted an application to the County for HOME funding on May 1, 2019. Developer is also working with the City of Moreno Valley for land, entitlements, funding and environmental clearance.  Housing staff is in the process of reviewing the project, budget, applicant’s experience, capacity, and financials.  35 Project Based Vouchers were awarded from the Housing Authority.  Developer plans to submit the project for 1 st round tax credits in 2020. If awarded tax credits the anticipated start of construction is 4 th quarter 2020. Housing Authority Subsidy Assistance and Report (November 2019) – 5th District totals:  Section 8 Program – 1,978 families were assisted in the month of November; $1,438,620 was expended in Housing Assistance Payments.  Affordable Apartment Units: 132 units total (34 and 28 unit communities in Moreno Valley, 12 unit community in Beaumont, 14 unit community in Banning, 40 unit community in Perris and 4 single family homes in Moreno Valley)