Avalon City Attorney Scott Campbell said Avalon has $4.3 million available to spend on low and moderate income housing. Campbell said he would discuss the money with the City Council on Feb. 5.
He said it was up to the council on how to spend the money. The money may only be spent on low and moderate income housing.
Campbell agreed that $4.3 was a good deal of money.
Avalon briefly lost the money because of changes in state law, but then got the money back because of another change in state law.
Avalon City Attorney Scott Campbell said Avalon has $4.3 million available to spend on low and moderate income housing. Campbell said he would discuss the money with the City Council on Feb. 5.
He said it was up to the council on how to spend the money. The money may only be spent on low and moderate income housing.
Campbell agreed that $4.3 was a good deal of money.
Avalon briefly lost the money because of changes in state law, but then got the money back because of another change in state law.
Avalon issued the bonds for the money years ago. When the state legislature abolished redevelopment agencies—known on Catalina as the Avalon Community Improvement Agency—Avalon lost the bond money.
Then the state legislature passed a new law that regulated how the successors to the redevelopment agencies could spend their money.
Campbell told the Islander on July 11, 2012, that the bond money could be spent on housing. At the time, he said it would take six to nine months to get state approval to spend the money.
