OC Supervisors to Apply for State Funding to Turn Costa Mesa Motel Into Homeless Shelter
The Orange County Board of Supervisors approved plans on July 18 to apply for a state Project Homekey grant to acquire a motel in Costa Mesa to refurbish it and provide low-cost housing and shelter.
The county wants to acquire and rehabilitate the 120-room Travelodge at 1400 Bristol St. with a $6,781,520 loan.
Supervisor Doug Chaffee said he “strongly supports” the Homekey Program, but added he was concerned about the debt servicing of the project.
“At some point the amount of debt owed will exceed the value of the project, probably by a multiple of times and the reality is when it comes time to pay it some of it may have to be written off or may be a gift and not collectible,” Mr. Chaffee said….