Digital Almond Gardens - Flipbook - Page 15
Harbor Park, LLC.
(916) 740-1276 Office | (916)740-1276 Cell | cnojoomi@gmail.com
Housing Accessibility
The project is designed to comply with ADA requirements. There are a total of 27 units
that are ADA accessible and adaptable. The construction documents for the project will
be prepared by qualified and registered architects and engineers that are
knowledgeable about the most recent ADA requirements, and will make sure the deign
and construction requirements of the Fair Housing Amendment Act of 1988 and
implementing regulations at 24CFR 100.205 as applicable are followed.
Site Control
The ownership of the project currently resides with the Housing Authority of Suisun
City. However, a Development and Disposition Agreement with Harbor Park, LLC was
executed in November of 2021, which has been extended in August of 2022, by one year
and a conditional additional second year. Due to the circumstances out of the Developer
control, the DDA needs to be amended to extend the deadline by two years commencing the approval of the Project Based Voucher agreement, to afford the project, the opportunity to first apply for the State housing funds to obtain a bridge loan in 2024, and
subsequently apply for Tax Credit financing in 2025. However, the project-based vouchers are extremely important in receiving a score high enough in the competition for the
state and federal financing. Otherwise, the labor-intensive and expensive process of
applying for these funds will be a futile effort.
Financing
As alternative sources of funding may become available in the future, the primary
source o funding for this project remains Tax Credit financing combined with the Sate
bridge loan. Therefore, a gap financing application will be prepared for the State NOFA
in July 2024. With the project-based vouchers, the chance of this project obtaining gap
financing for construcon from the State would be high. Once the bridge loan is secured
from the State, the chances of obtaining tax credit financing from the Federal
government will significantly increase. A term of 55 years is requested.
The proposed project will increase the stock of affordable housing by an additional 47
units, while saving 52 units which are in danger of being lost.
Almond Gardens
Page 15 / 26
