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Wakeland Housing Project Moving Forward

SAN DIEGO-The proposed development is on track to be one of the first downtown San Diego projects financed with the new affordable housing NOFA funds, as the NOFA Collaborative Review Team has recommended approval of the Owner Participation Agreement with Wakeland.

By Erin Cassin | Updated on September 19, 2003

SAN DIEGO-Wakeland Housing is on track to build one of the first downtown San Diego projects financed with the city’s new affordable housing monies, as the Notice of Funding Availability Collaborative Review Team has thrown its support behind a proposed Owner Participation Agreement with the developer.

Last week, the NOFA team formerly recommended approval of the terms and conditions included in the proposed agreement, which pertains to Wakeland Housing’s Lillian Place development. Wakeland, which is planning to build the project in the East Village Redevelopment District, is the first developer to have requested funding through the Affordable Housing NOFA process that was announced in February. The developer has asked for a $5.45-million NOFA subsidy and also plans to apply for Affordable Housing Program funds and 9% tax credits.

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