A few months ago I blogged about a senior mobile home park in Lynnwood that was being bought out by developers, thus displacing the residents of their low income housing.
Well, Aaron Reardon, County Executive for Snohomish County, approved an ordinance that provides a contingent loan guarantee to bond offerings of the Housing Authority of Snohomish County to purchase two senior mobile home parks in Lynnwood. The acquisition cost of the two parks is $10.2 million. Because the County has a strong bond rating, the loan guarantee saved approximately $500,000 on the total cost of the project, Reardon said, lowering the rent rates for the residents. The County will also provide $2.6 million of housing trust funds.
So senior citizens, rest assured, you will be saved. You are our most precious commodity.
For your real estate needs, call an SRES, Seniors Real Estate Specialist, call Karen Villa Schweinfurth, ABR, CRS, SRES, e-PRO Internet Certified, 425-308-3669 or visit my web page at http://www.karensvillas.com.
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