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Low Income Housing Coming To Vista, California!

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Services for Real Estate Pros with Crescent Moon Realty, Inc. & Land N Sea Auctions.

Vista, California is holding onto it goal of providing housing options for low-income residents despite uncertainty surrounding re-development, the City Council decided at a workshop. The city's top priorities to give the run-down Paseo Santa Fe corridor a major face-lift, relocate mobile home park residents living in what the city call "substandard housing" and develop living space for special needs groups such as foster children transitioning into self-sufficiency are in limbo while the California Supreme court determines the future of redevelopment in the state.

 

The agencies are expecting to have to pay to schools and other programs 40% of tax revenues this fiscal year than 10% annually. The League of California Cities and the California Redevelopment Association challenge those laws. The state Supreme Court has said it will issue a final ruling by January 15. Until then redevelopment agencies cannot enter into new contracts.

 

Vista nonetheless plans to forge ahead with its plans to improve the city using money from it's redevelopment commission. The city won't be able to enter any new deals until the state Supreme Court issues its ruling but will continue other work such as following through with already established contracts. That includes using more than 14 million of the $16.5 million in bonds issue in June to among other things improve infrastructure and acquire land along Santa Fe Ave. Vista is hoping to transfigure the area know as Paseo Santa Fe Corridor from one lined with overgrown shrubbery and dilapidated homes with bars on the windows into a bustling mixed-used area with fresh condominium complexes offices restaurants and stores.

 

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Comments (1)

Donne Knudsen
Los Angeles & Ventura Counties in CA - Simi Valley, CA
CalState Realty Services

First and foremost, I'm glad to hear that Vista is actually trying to provide affordable housing options to low-income residents.  As an MLO who assists with low-median income buyers with affordable loan options, I work with a lot dpa programs and these are wonderful programs for these people who never thought they would ever own a home. 

I hope everything works out with suspension of the program too and that everything gets back on track soon. 

Sep 14, 2011 05:49 PM