The Plumas County Community Development Commission is in the final stages of taking control of the Wildwood Village complex, which will be dedicated entirely to providing subsidized housing for seniors and disabled residents.
The commission approved the signing a new $1.2 million US Department of Agriculture Rural Development loan for the newer sections of Wildwood and assumed an $811,000 USDA RD loan on the original structure at a Tuesday, Oct. 5, meeting.
The commission authorized the signing of a certificate of acceptance on the village section of the complex at a Tuesday, Oct. 19 meeting.
CDC Finance Director Tom Yagerhofer explained the interest rate on the new loan might be as low as four percent “and of course they’re subsidizing the rents so whatever the interest rate is its gonna be covered through the subsidy,” which will be paid by USDA RD.
Yagerhofer also said the feds would be paying $1,205,000 “to do the necessary unit conversions and repairs and some ADA things, mostly on the old side, that preceded today’s ADA laws.”
The American Disability Act governs accessibility rules and is particularly strict on publicly funded facilities.
The finance director told the board there would be 53 units when all the work was completed in the summer.
In a short phone interview, Thrall said only a small number of units needed renovation and the majority would be available after the commission officially took control of the complex Monday, Nov. 1.
Back at the meeting, the financial director added that the CDC had been calling people on the waiting list and only had eight more of the currently available units to fill.
Yagerhofer explained residents paid 30 percent of their income with the feds filing the gap between that amount and the “basic rent” of around $800.
He said the work yet to be done would be sent out for bid soon.
Thrall reiterated that the complex wouldn’t be what people think of as “low income housing,” but subsidized residency for seniors and disabled citizens on fixed incomes.
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