City-Owned Residential Lot Could be Sold to San Gabriel Valley Habitat for Humanity

The City Council on Monday will consider selling a city-owned residential lot to San Gabriel Valley Habitat for Humanity Inc. (SGV Habitat) for a project to house low-income families.

According to a report to the council, the subject lot, which is approximately 6,590 square feet, is located at 130 W. Howard St. and 1556 Navarro Ave. The contract sales price of the property is $525,000.

Staff is recommending that the city and SGV Habitat enter into a development and loan agreement (DDLA) for the implementation of the housing project, which has a total cost of nearly $1.5 million.

To assist the developer’s acquisition of the property, the proposed agreement is being let at 3% interest per annum. If the project is completed in accordance with the terms of the DDLA, the accrued interests will be written off.

According to the staff report, SGV Habitat plans to acquire the property from the city in November.

Construction is expected to finish in one year, according to the staff report.