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City of Alameda to Appropriate $1.3 million in Federal Funds for Islander Hotel

At the March 15th Alameda City Council meeting, Council will consider a recommendation to appropriate $1.3 million in federal HOME funds to be used to rehabilitate the Islander Motel at 2428 Central Avenue.

Last November, Alameda City Council members, sitting as commissioners for Alameda’s redevelopment agency, authorized city staff to negotiate the purchase of the Islander Motel property to convert it to affordable workforce housing. The redevelopment agency committed $9 million for the acquisition of the property and a portion of its rehabilitation costs; now the City of Alameda wants to secure a $1.3 million HOME loan for Resources for Community Development (RCD) for pre-development and other unspecified activities.

According to its website, RCD “creates and preserves affordable housing through partnerships with local governments, lenders, investors, funders, and donors to provide quality housing and support services to low income individuals and families.”

4 comments to City of Alameda to Appropriate $1.3 million in Federal Funds for Islander Hotel

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