Housing in Thousand Oaks

Residents who watched the Jan. 20 Thousand Oaks City Council meeting were given a comprehensive review of our city’s affordable housing efforts (“Thousand Oaks Faces Problem of Affordable Homes,” Jan. 20).

Olav Hassel, our able housing service manager, reviewed in detail both the capital and operating programs that make up the broad range of efforts we have undertaken as a city to make affordable housing a reality in our community.

Many Mansions is proud to have been a part of a number of these initiatives, particularly those associated with the renovation of existing housing stock and its reclamation for use as low- and moderate-income housing.

To that end, the council’s unanimous vote to refinance our Shadow Hills project, accomplished after some seven years of successful operations, represents a one-time city subsidy of not more than $55,000 per unit of permanent affordable housing. In our view, that is a model of fiscal partnership for the public good.

Similarly, the council’s votes to make substantial public contributions to our purchases of the Island Village Apartments and the Village Inn Motel--which will provide some 140 units of new affordable housing when renovated--are landmark decisions in affordable housing in Thousand Oaks. We are proud of the confidence the staff and council have shown in our planning and management abilities and we look forward to leveraging these local contributions, as we did with our community house project, to generate state and federal money for renovation and operation of our projects.

Indeed, we have already been notified that we have been designated to receive HOME funds in the amount of $1 million toward purchase of the Village Inn Motel. These funds, together with the city’s contribution and private capital contributions, will complete the financing necessary for this project.

Many Mansions is proud to be known as Thousand Oaks’ affordable housing agency and proud to have the continuing support of our fine staff and council.

OTTO G. STOLL

Chairman Emeritus,

Board of Directors,

Many Mansions Inc.

Thousand Oaks