An affordable housing project in Nevada City getting a chance to defer payments to ease upfront costs on a project for a 56 unit developemnt on the vacant parcel known as Cashin Field. The lot is on the corner of Searls Avenue and Ridge Road across the street from Sierra Presbyterian Church. City Manager Catrina Olsen says the proposed deferral of 200 thousand dollars in developer impact fees will be paid back over a number of years with terms similar to a mortgage.
Council members were aware the request was coming as part of the development process, but rumors in the community prompted Vice Mayor Duane Strawser to request clarification that the project had not been killed by the State.
Executive Director of the Regional Housing Authority, Gus Beccera, shared the official notification of award by the state had been delayed because of the volume of applications received, but word was expected on October 14th. He also said that a contingency plan could be implemented if tax allocation funding is not awarded.
A secondary issue involving potential hazardous materials on the property also came to light since the project submitted its initial environmental review.
Beccera does not anticipate any delays as a result of the secondary assessment and expects costs to be around 16,000 dollars.
Along with the 56 apartment units, a community center and outdoor play area are also included in the project.