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6.3G <br />Page 14 <br />Jessie Street <br />314 Jessie Street <br />Santa Cruz, CA <br />Management Company: Mid-Peninsula Housing Management Corporation <br />Services Partner: Santa Cruz Health Services Agency <br />2002-present <br />In 1999, Mid-Pen acquired what was originally a 1940-era motel in Santa Cruz to create <br />permanent supportive housing in Santa Cruz County. The building is located near <br />downtown Santa Cruz, convenient to shopping, transportation, and critical services. <br />Jessie Street currently provides housing for adults with mental disabilities or formerly <br />homeless adults. <br />Renovations to the buildings included the reconfiguration of many of the original SROs <br />to one-bedroom units, updating the electrical system, improving the drainage and sewer <br />systems, and interior and exterior painting. A total of 10 existing motel rooms were <br />renovated and converted to one-bedroom units and 3 existing rooms were made into <br />upgraded SRO units. <br />Rents in the renovated units currently average 18.4% of the County's Area Median <br />Income at approximately $297 per month. Mid-Pen's nonprofit affiliate, Mid-Peninsula <br />Housing Management Corporation (Mid-Pen Management), manages the residential <br />space. <br />Services Team <br />An integrated services team has been created to provide individuals living at Jessie <br />Street with access to social services, case management, and stable housing, allowing <br />them to thrive in a permanent independent living setting. This team is collaboration <br />between Mid-Pen, owner and manager of the permanent affordable housing, and the <br />Santa Cruz County Health Services Agency, <br />Development Cost & Financing <br />The total cost of the acquisition and redevelopment of the residential units was <br />approximately $700,000. The State of California Department of Housing and <br />Community Development made a $575,000 low interest loans from its California <br />Mousing Rehabilitation Program to the project. Citibank made a permanent loan of <br />8 <br />