Council will look at housing grant
To combat federal government limits on growth and rebuilding in the Tahoe Basin, the city of South Lake Tahoe has undertaken several housing rehabilitation projects.
These have ranged from acquiring apartment complexes so they might be turned into affordable senior housing, to rehabilitating blighted houses and complexes.
Tuesday, the City Council will consider spending $1.9 million in state housing grant funds to purchase and rehabilitate the Tahoe Valley Apartments across from the city offices on Tata Lane.
The city would provide the funds in the form of a low-interest loan to Rural California Housing Corporation, the organization which would fix the complex.
The corporation would be required to pay off the loan, at 3 percent interest, over a 55-year period, the same amount of time the complex must remain under the “affordable” designation.
Housing Coordinator Patrick Conway said if the proposal gains council approval, the work on the blighted 70-unit complex would begin in July with each unit receiving about $90,000 in repairs.
The interiors of the units would be outfitted with new appliances, heaters, water heaters, floor coverings, windows, cabinets, plumbing fixtures and doors. They also would be painted after holes in the walls are repaired.
Asbestos was discovered in the floors and ceilings of the apartments. Conway said the carcinogens found in the ceilings will likely be encapsulated by a licensed asbestos contractor, while asbestos in the floors may be removed.
The complex’s exterior will receive a new roof, paint, landscaping, fencing, stairs, repairs to the siding, repaving of the parking spaces and driveways.
The total cost of the project is expected to be about $6.3 million. While the city will contribute a little less than a third of that sum, Conway said no general fund money will be used in the project.
The remaining $4.4 million will come from a combination of funds from the California Housing Finance Agency, federal tax credits and U.S. Bank.
Conway estimates the project will be completed next spring or early summer.
Who: South Lake Tahoe City Council
Where: Council Chambers, 1900 Lake Tahoe Blvd.
When: Tuesday, 6 p.m. (Redevelopment Agency at 4 p.m., South Tahoe Joint Powers Financing Authority immediately following council meeting)
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