KARUK HOMES #1
CALIFORNIA
Karuk Homes I received a 2015 allocation of $874,302 in federal tax credits and $3,409,157 in state tax credits from the California Tax Credit Allocation Committee (CTCAC), helping to finance 30 new single-family homes (29 Housing Credit homes and one manager’s home) on Karuk Tribal Trust Land in Yreka, CA.
The development includes a mix of homes with three bedrooms at 1,918 square feet; four bedrooms at 2,004 square feet; and five bedrooms at 2,750 square feet.
Three homes are targeted to households with annual incomes up to 30 percent of Area Median Household Income (AMI), eight homes are targeted for households up to 40 percent AMI, twelve homes are targeted for households up to 50 percent AMI, and six homes are targeted for households up to 60 percent AMI.
Karuk Homes I is Karuk Tribal Housing Authority’s (KTHA) first Housing Credit development, however KTHA has extensive experience developing and managing affordable housing properties and maintains a portfolio of more than 180 affordable homes developed in the last three decades. Additionally, in the last ten years alone, KTHA has developed five multimillion dollar community structures that serve its affordable homes.
The property’s homes were designed to meet CTCAC’s mandatory design guidelines and incorporated several green building techniques. KTHA and the Karuk Tribe agreed to provide services to the tenants, including adult education and wellness classes, as well as after school programs for children. Both KTHA and the Tribe have extensive experience conducting similar programs throughout the community.
At the time of the award, KTHA Executive Director Erin Hillman said: “We would like to express our thanks to the CTCAC for selecting our application for an award,” she said. “This project will have a much needed local economic impact, generating revenue from the construction development as well as creating two full-time permanent positions at KTHA. My staff and I are looking forward to getting this project underway.” Read more in the news release about the property.
Travois provided consulting and architectural services for the development.