Annual Report 2004
HousingHousing
affordability and availability are priority issues
at the City. Many challenges exist throughout the county to address the
needs of existing families and new residents. The
City is committed to supporting programs that
provide additional housing opportunities and to developing policies
that address affordability and availability.
Projects, Programs Promote
Affordability
Efforts to create and sustain affordable
housing opportunities in the community continue to be successful.
- The Wave Street Apartments
(pictured) are the first permanently affordable housing to be developed on
privately owned land in the City. The 21-unit project has been
designated as affordable for low- and
moderate-income workers
who are employed in and around Cannery Row.
Developer/property owner Carl Outzen was committed to developing the site
under an innovative financing plan with the City.
- The City is planning a groundbreaking
ceremony for an affordable 18-unit, workforce housing project located
adjacent to the Monterey Hotel on Alvarado
Street. Financing is a private/public partnership with the City
financing the housing on the mixed-use site. The City received an $850,000
State grant to assist with the project. It will be designated for renters
who work in the downtown redevelopment area and will remain affordable for
the life of the project.
- This year the City also was awarded a
$246,000 State grant to assist current renters who are facing financial
crisis. The program will provide rental assistance to some 12 to 15
households for up to two years. Renters who
qualify will be supported in this priority order: seniors on low, fixed
income; single-parent heads of households; and newly disabled.
For more info on housing
programs, call the Housing & Property Management Office
at 646.3995 or visit us online at
www.monterey.org/housing.
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