City Loan May Assist Standard Ave. Cleanup
As part of its effort to clean up a Santa Ana neighborhood, the City Council may vote Monday to extend a loan to a nonprofit group so it can buy two apartment buildings on South Standard Avenue.
The area is one block west of Minnie Street, which has been the focus of many city and nonprofit improvement efforts.
Bridges America Inc. has estimated it will need about $965,000 to buy and rehabilitate the two buildings.
The city’s proposal is to lend the group $610,000 in federal community development grant funds to buy the structures out of foreclosure. The nonprofit group will apply for a conventional loan to make up the difference.
The City Council meets at 6 p.m. at City Hall, 22 Civic Center Plaza. Information: (714) 647-6900.
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
