Firefighters, Police May Get Home Loans
Alarmed that fewer than a third of firefighters and police officers can afford to live in the city they serve, Santa Barbara officials are considering offering them low-interest loans to make buying a home easier.
Last week, the City Council approved a $500,000 low-interest home loan for police Chief Cam Sanchez, who is paid $137,000 a year. He is required to live within the city limits.
The median price for a house in the city is $629,000. That has forced some emergency employees to live as far as 100 miles from work.
“We are potentially vulnerable in the event of a natural disaster,” Councilman Gregg Hart said.
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