City of Ukiah Benefits from Low Income Housing
Recently, Rural Communities Housing Development Corporation (RCHDC) approached the California Municipal Finance Authority with their McCarty Manor location. This 40 unit site had been originally financed through USDA loans which were about to expire. Many developers opt to convert these projects into market rate apartments in order to improve their return on investment. However, the newly issued debt will allow RCHDC to preserve the affordability at this Ukiah located multi-family housing apartment site for the next 55 years while also allowing the developers to make some needed improvements.