Assemblyman Steps in to Save Santa Rosa Affordable Housing Project
As Sonoma County home prices soar to their highest level since 2007, one of Santa Rosa’s affordable housing projects has hit a major speed-bump. Burbank Housing’s “Catalina Project” is at risk of losing $3.8 million in state funding if a solution is not delivered before June 30th, 2015.
Burbank Housing recently received word that funding from the California Department of Housing and Community Development’s (HCD) BEGIN program, a program designed to provide down-payment assistance loans to qualifying first-time low- and moderate-income homebuyers, would be lost if it is not spent by the last day in June of this year.