City to Act on Loan for Senior Apartments
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The city will help build a large apartment complex for seniors under a loan agreement expected to be approved today by the City Council.
The Orange Housing Investors partnership has a lease to develop the $7-million Harmony Creek Senior Apartments, city officials said.
The city has been asked to loan more than $300,000 to the 83-unit development, which will be built at 1616 E. Rock Creek Drive. In exchange, the partnership would rent 41 of the apartments at rates affordable to low-income seniors, according to the agreement.
Seniors with annual incomes up to $22,100--half the county’s average income--would be eligible for the affordable units.
The meeting will begin at 4:30 p.m. at City Hall, 300 E. Chapman Ave. Information: (714) 744-5500.
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