ApprovedOther
Santa Lucia Townhomes conduit financing
Description
A nonprofit is buying the 204-unit complex using up to $100 million in tax-exempt bonds, adding affordability restrictions — 20% of units at 50% AMI, 80% at 80% AMI — with no city financial liability.
Impact summary
Existing tenants keep their homes and gain rent protections; the lowest-income tier sees rents drop roughly $700-$900 a month.
Applicant
- Name
- Foothill Santa Lucia, LLC
- Address
- 589 Leslie Drive, Salinas, CaliforniaSee this on the map
At a glance
- Hearings
- 1
- Public comments
- 1
- Total mentions
- 1
Last vote · City Council
Approved6–0, unanimous
Last discussed May 12, 2026.
Meeting timeline (1)
Related issues (1)
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