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| February 3, 2006 |
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FALCON CREST WINS $2.8 MILLION BEGIN GRANT
CANOGA PARK, CA – California Department of Housing and Community Development Acting Director Judy Nevis and Business, Transportation and Housing Agency Secretary Sunne Wright McPeak jointly announced $10.4 million in BEGIN grants for affordable housing throughout California. |
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At the press event, Nevis awarded Carlos Ortega, Palm Desert City Manager, with the largest single BEGIN grant for $2.79 million. The City will use the funds to provide downpayment assistance for homebuyers at Falcon Crest, a community of 93 homes being jointly developed by the Palm Desert Redevelopment Agency and Community Dynamics. Dynamics assisted the City with its application for the funds, and is building the community.
"Community Dynamics has long been recognized as a leader in the field of affordable housing, and is pleased to have been able to work with City leaders to craft a program that will make homeownership available to hard working families earning as little as $40,000 per year," said Josh Freeman, the Company's spokesperson.
HCD established the Building Equity and Growth in Neighborhoods ("BEGIN") Program to encourage cities and counties to reduce regulatory barriers to the construction of new, affordable ownership housing. |
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