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The proposed sale of the property, located at 130 W. Howard Street and 1556 Navarro Avenue was approved by the council without opposition during its meeting on Monday.
The city clerk’s office received eight letters expressing support for the sale of the two parcels of land.
Jill Shook, executive director of Making Housing and Community Happen lauded the project.
“I am really pleased to see that this site is being set aside for Habitat.”
“I hope there will be additional sites in the future, especially on church land.”
Ruben Corral also expressed support for the project, saying people “are in desperate need of more, and decent, affordable housing.”
“I have had the opportunity to see the homes built by Habitat for Humanity, and they are beautiful,” said Connie O’Donnell. “I believe this is a win-win for Pasadena and the fortunate families who will benefit from this opportunity.”
“I am certainly happy to see the property renovated by Habitat into affordable housing,” Mayor Victor Gordo remarked.
During the meeting, Councilmember John Kennedy lauded SGV Habitat for its efforts in helping unhoused residents by providing affordable housing.
Under the approved Disposition, Development and Loan Agreement (DDLA) between the city and SGV Habitat, the property will be priced at $525,000, which is the current appraised market value.
To assist the SGV Habitat’s acquisition of the property, the city shall carry back a seller purchase money loan in said amount, according to the DDLA.
The loan shall bear a three percent interest per annum. However, the DDLA provides that if the project is completed satisfactorily in accordance with the terms of the agreement, the accrued interests will be written off.
Under the DDLA, the total cost of the housing project is $1,486,983.
According to the staff report, SGV Habitat plans to acquire the property this month.
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