Ventura County: Tax Credits allow Thousand Oaks affordable-housing project to proceed

An affordable-housing complex for low-income families in Thousand Oaks will be able to proceed because the project will receive tax credit funding from the state. Doug Tapking, head of the Area Housing Authority of Ventura County, said he was “excited beyond belief” that the California Tax Credit Allocation Committee has agreed to award $11.6 million to help build of the housing complex on 2 acres of vacant land on Los Feliz Drive in Thousand Oaks. The committee also awarded the housing authority $5.4 million to carry out major improvements to the existing Colina Vista Family Apartments in Piru. Both developments target households with incomes of 30 percent to 50 percent of the median income in the county, about $26,800 to $44,650 a year for a family of four. In addition to the tax credit funding, the housing authority will have to take out a bank loan to meet the estimated $22 million needed to complete the buildings.

Ventura County Star

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