Fairfield, Woodland Awarded Funds for Low-Income Housing

$950,000 awarded to projects in Fairfield and Woodland

"There was a lot of competition for these grants. We were fortunate to be selected," said Assemblywoman Wolk. "There is a growing gap between wages and the cost of housing that these grants help to fill. This money represents new homes for first-time, low-income homeowners, a rare commodity in today's housing market."

Housing developments in Fairfield and Woodland were awarded the funds, which were made available by passage of Proposition 46, the Housing and Emergency Shelter Trust Fund Act of 2002, to help meet the housing needs of California's low-and moderate-income families.

In Fairfield, a $450,000 Building Equity and Growth in Neighborhoods (BEGIN) grant - only awarded to cities and counties offering "significant forms of regulatory relief in support of the development of homeownership opportunities for first-time, low- or moderate-income homeowners"-- was given to the Providence Walk Phase II project. The monies will be dispersed in the form of mortgage assistance loans. The commitment is conditioned on compliance with the requirements of all applicable statutes and regulations of the BEGIN Program, as well as any conditions stipulated in the contract documents, which will be forwarded to the awardee.

In Woodland, a $500,000 CalHome grant dedicated to promoting homeownership opportunities for first-time, low- to very low-income homebuyers was awarded to Sacramento Valley Organizing Community (SVOC). The SVOC program encourages community development, stressing the importance of affordable housing development. The commitment is conditioned on compliance with the requirements of all applicable statutes and regulations of the program, as well as any conditions stipulated in the contract documents, which will be forwarded to the awardees.