Developer Wants Subsidies From City
The developer of the proposed $16-million Sumida Gardens apartment complex said he may pull out of the project unless the city kicks in $4.6 million in subsidies.
Developer Michael Towbes said half of the 200 units would be restricted to moderate- and low-income families who qualify for affordable rental units. The plan was approved by Santa Barbara County in 2001, before Goleta became a city.
The subsidies would cover developer fees, which pay for extending utilities and adding to public facilities, such as streets and parks, that future tenants would need.
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