VENTURA TO WEIGH PROVIDING AFFORDABLE SPACE FOR ARTISTS

November 20, 2006
Ventura County Star

Ventura - Calif - The Ventura City Council is expected to enter into a development deal tonight that would bring permanently affordable space for artists to live and work on city-controlled land downtown.

The project - which includes more than 50 artist spaces, a gallery, market-rate condominiums and supportive housing for omeless individuals - would be constructed by the nonprofit organization People Linking Arts, Culture & Environment Inc., or PLACE.

Under the deal, the city would sell the land for the project at Ventura Avenue and Garden Street for $1 in return for the mixed-use project that officials say would advance the city's efforts to become a cultural destination

PLACE also would receive the remainder of a $1.5 million loan of city funds for affordable housing. So far, the city has lent the nonprofit $400,000. The two groups have been in negotiations for more than two years.

PLACE would construct 13 market-rate units on the site to help pay for the estimated $50 million affordable-housing project. Much of the remaining cost of the project would be covered by state and federal housing dollars.