PAJARO HOUSING S.S.

A 20 MILLION DOLLAR FINANCIAL PACKAGE IS BEING PUT TOGETHER, SO THAT A DILAPIDATED PAJARO APARTMENT COMPLEX CAN BE REPLACED WITH NEW LOW-COST APARTMENTS. THE SALINAS ROAD COMPLEX, WAS PURCHASED BY SOUTH COUNTY HOUSING CORPORATION. OF GILROY IN 2002. THE NONPROFIT DEVELOPER MADE IMMEDIATE EMERGENCY REPAIRS, LOWERED RENTS, AND GAVE TENANTS A VOICE IN THE COMPLEX'S FUTURE. BY THE TIME CONSTRUCTION STARTS NEXT SUMMER, THE TENANTS WILL HAVE PAID ALMOST 400 HUNDRED THOUSAND DOLLARS INTO A RENTAL ACCOUNT, TO HELP FINANCE THE RENOVATION. RESIDENTS WILL BE RELOCATED TO TEMPORARY HOUSING DURING THE CONSTRUCTION.