FOR IMMEDIATE RELEASE
168-Unit Complex Received Multiple Upgrades and Improvements
SACRAMENTO, Calif., Nov. 7, 2013 — After overcoming multiple obstacles brought on the by the recession, LINC Housing was pleased to gather with residents, city officials and other partners to celebrate the completed renovations at Mosaic Gardens at Taylor Terrace in Sacramento.
“The renovation of Mosaic Gardens at Taylor Terrace almost didn’t happen,” said Hunter L. Johnson, president and CEO of LINC Housing. “LINC Housing acquired the property in 2009, at the height of the recession. Funding our work was becoming increasingly difficult because sources we had relied on for years were gone. But the City of Sacramento and the Sacramento Housing and Redevelopment Agency joined us in never giving up hope.”
The 168-unit complex, located at 4058 Taylor Street, serves low-income working families and seniors on fixed incomes. The community underwent energy efficiency and water conservation upgrades including dual-glazed, low-e windows, high efficiency water heaters, new HVAC systems, added insulation, irrigation smart meters, low-flow toilets, energy efficient interior and exterior lighting, and all new Energy Star appliances in each apartment. The property also received safety repairs including an upgraded security camera and entry gate systems, additional site lighting, installation of smoke alarms in each bedroom, and repairing trip hazards in walkways and curbs.
“This type of investment in our communities is important,” said Councilman Allen Warren, District 2, City of Sacramento, who also encouraged residents to take care of the property and each other. “Take pride in your community and do your part to make our city strong.”
Sacramento City Manager John Shirey added his congratulations. “I know it was challenging, but everyone remained committed to getting this done,” he said. “The result is a revitalized community where families can live in a secure and supportive environment.”
In addition to the recent renovations and upgrades, LINC also brought resident services to the complex shortly after acquiring the property. LINC Cares, the resident services program at LINC Housing, started a variety of programs including an after-school program, a computer lab with Internet access for job searches and other research, educational workshops on topics such as resume writing, nutrition and credit management, and social events for the residents. Many of these activities are held at the property’s newly renovated community center.
Mosaic Gardens at Taylor Terrace features 1-, 2- and 3-bedroom apartment homes ranging from 650 to 1,050 square feet. The majority of the units are for families earning from 30 to 60 percent of the area median income for Sacramento County, as established by HUD. Rents range from $421 to $857 per month depending on household income.
Funding for the acquisition and renovation came from a number of sources including: conventional mortgages with U.S. Bank and Clearinghouse CDFI; loans from HCD’s Rental Housing Construction Program and the Sacramento Housing and Redevelopment Agency; tax credit equity from Raymond James; and energy improvement incentive funds from Sacramento Municipal Utility District and Pacific Gas & Electric. The total cost for acquisition and renovation was approximately $16.5 million.
