Three affordable rental projects in Brawley, Calexico and Imperial have received a $2.4 million infusion from the federal Affordable Housing Program via the Federal Home Loan Bank of San Francisco, Rep. Duncan Hunter's (R-Alpine) office announced Friday.
Each project includes 80 rental units.
The project in Calexico, Villa de las Flores, is already under construction and should be completed sometime this winter, according to Charles Schmid, project manager for Solana Beach-based Chelsea Investment Corp.
"We still need other financing to make those other projects happen," he said, adding the company should know within 75 days if it will get the needed money.
Chelsea gets cash by obtaining tax credits that are then sold to investors.
"They give us cash in return for taking away a big part of their tax bill," Schmid said.
Hunter spokesman Michael Harrison said the grant application was submitted by the three cities and Valley Independent Bank. He said each city is set to receive $800,000.