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Jake’s Takes

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11th Hour Deal, Reopening Business, Affordable Housing

August 12, 2020
11:00 am

This week on Tuesday evening, we witnessed another example of democracy in action. The Shasta County Board of Supervisors agreed to host their public meeting at a time when the public could participate – 6:00 p.m. – and participate they did. Dozens of local citizens used every second of their allotted three minutes for public comment to express their frustrations over forced closure of businesses, distance learning in schools, and wearing masks.

After more than four hours of comments, followed by updates from County health officials, it was our turn to advocate for the swift appropriation of $300,000 from the federal CARES Act to our business recovery grants program. Just before the clock struck midnight the supervisors gave their unanimous approval, solidifying that now any business with 5 or fewer employees anywhere in Shasta County, is eligible to apply for grant consideration. There are other guidelines and restrictions. For more information, please CLICK HERE.

There was a glimmer of additional hope at the meeting when Shasta County Health Officer, Dr. Karen Ramstrom, indicated that at a recent meeting of fellow rural county health officers they got the impression that the State of California is leaning toward reinstating the granting of a regional variance (aka local control), to counties who have COVID-19 health metrics that warrant it. Shasta County has remained well below the thresholds agreed upon with the state. We continue to advocate on behalf of our business community at all levels of government. We will be digging into this to try to accelerate the process.

Finally, I had a chance to walk across the street to the leasing office of Market Center, the four story, mixed-use project at 1551 Market Street in downtown Redding. According to the staff, they have received well over 300 applications vying for one of 82 residential units, which feature quartz countertops and luxury vinyl flooring among other amenities. How much do the units cost? The quick answer is that it depends on the household income of the applicant. The rate sheet I was given shows that a single bedroom unit rents for $459 – $1050 per month. A three bedroom unit rents from $636 – $1454 per month. Here are the maximum allowable income caps for each household size:

1 person = $39,200 5 people = $60,400

2 people = $44,800 6 people = $64,880

3 people = $50,400 7 people = $69,360

4 people = $55,920

The building will begin the occupancy process this fall. At full capacity there will be about 200 people living in the building, which should help neighborhood shops and restaurants and overall vitality. For more information on leasing information please CLICK HERE.