At the September 9th joint Redevelopment Agency/City Council meeting, the Santa Clarita Council approved the loan of $2.7 million to Mercy Housing California for the acquisition and rehabilitation of the Hidaway Apartments in Canyon Country. The Hidaway Apartments are currently in default on a loan with the County of Los Angeles and have fallen into disrepair over the last several years. Mercy Housing will use $2.3 million to completely renovate the 67-unit building inside and out. Once the renovation is complete, all of the rental units will be held at affordable rents for families earning at or below 50% and 60% of the area median income for 55 years. The project will provide much needed affordable housing for working families, as well significantly improving the condition of the buildings and rental units. The City will maintain significant oversight of the project throughout the 55-year affordability agreement and will conduct annual inspections of tenant eligibility documentation, property maintenance, and rental units.
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