Council Approves Agreement with County, Housing Authority on Buena Vista
By unanimous vote of 9-0, the City Council approved the Memorandum of Understanding with Santa Clara County and the Housing Authority that commits $14.5 million in affordable housing fees to fund, acquire and improve the Buena Vista Mobile Home Park. Earlier this month, the three parties announced their intention to partner with both Palo Alto and the County providing $14.5 million each in affordable housing fees in an effort to preserve Buena Vista as an ongoing source of affordable housing. The Housing Authority will acquire and own the property for the purpose of providing affordable housing. The County Board of Supervisors approved the plan on June 21, and the Housing Authority Board will vote on June 28.
Mayor Pat Burt highlighted the "broad support" for the agreement and said that it was a reflection of the community's values to provide equal opportunity and the potential for a greater future with access to education.
According to the MOU, the Housing Authority will provide pre-development funding to assess the feasibility and acquisition cost of the park. If the Housing Authority moves forward with the acquisition, it would contribute the additional funding, if needed, for appropriate upgrades to the site, as well as purchase and retain a non-profit with expertise in operating mobile home housing. To read more, click here.