City and Developer to Repair Apartments
City officials hammered out an agreement with a local developer this week to rehabilitate the deteriorating Parklane Garden Apartments on Highland Street.
Under the terms of the deal, the city will contribute $2 million to the $9-million project proposed by Southern Cal Investment Co. of Tustin.
The developer will not have to repay the grant, which comes from the city’s allotment of federal housing funds, as long as 80 of the 255 apartment units are kept affordable to low and very-low income tenants for 55 years.
Under Orange County median income guidelines, that means one-bedroom apartments would rent for $521 to $541 and two-bedrooms for $621 to $741.
City Council members unanimously voted for the project Tuesday, citing the need to clean up the blighted apartments.
None of the tenants living at Parklane will have to be relocated outside the complex because there are so many empty units available.
That pleased council members, who have been besieged by complaints from taxpayers about a $4.5-million relocation plan for the tenants of the Villa Santiago apartments.
Federal law requires payment to tenants forced to move for rehabilitation projects.
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In Rehab
255 rundown apartments will get $9- million make- over.
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