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La Habra

March 08, 2000|Tariq Malik, (714) 520-2508

City officials approved $6 million in bonds for a project to provide homes for low-income families.

Council members Monday unanimously approved multiple-family housing revenue bonds so a private development company could buy and renovate a 72-unit apartment complex on Cypress Street and designate it for low-income housing.

The owners of the apartment complex said that about 93% of their tenants already qualify as low-income, with annual incomes at 60% or less than the county median of $68,300 a year for a four-person family.

City officials said the bonds will be paid through the California Statewide Development Authority.

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