Sacramento backs 12-story, 198-unit affordable apartment tower near Sac State

The Sacramento City Council on Tuesday approved financing for a 12-story, 198-unit affordable apartment building near Sacramento State, four years after the same nonprofit developer proposed a three-story, 75-unit building on the site.

The council voted 7-0 to lend Community HousingWorks $2 million from the city's Housing Trust Fund and to approve up to $38 million in tax-exempt bonds for the project at 6779 Q Street. Mayor Kevin McCarty and Councilmember Caity Maple were absent.

The Sacramento Housing and Redevelopment Commission is scheduled to review the financing Nov. 4.

The developer, not the Housing Authority, would repay the bonds, the authority's resolution says. The project still needs bond authority from the California Debt Limit Allocation Committee and low-income housing tax credits.