City of Stockton City Council and Concurrent Authorities Meeting Minutes April 14, 2026
$5 Million Affordable Housing Loan Approved for Don Shalvey Apartments
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Description
The Stockton City Council approved a $5 million loan to Visionary Home Builders for development of the 108-unit Don Shalvey Apartments under the 2025 Affordable Housing NOFA. The loan is contingent on meeting underwriting requirements and may be financed through multiple state and federal housing funding sources.
Contract Details
Contract Amount
$5,000,000
Vendor
VISIONARY HOME BUILDERS
Agency
City of Stockton, CA
Contract Type
FINANCIAL_SERVICES
Document Date
April 14, 2026
Renewal Info
Resolution authorizes the City Manager to de-obligate and reallocate loan funds if the project fails to meet underwriting, funding stack, or construction start requirements, reallocating to other eligible NOFA projects as needed.
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