by Michael Millman

So, Los Angeles provided a pass through wherein the Tenants pay 50% of the cost, amortized over seven years, with a financial cap of $38 per month. Again, San Francisco provided a 100% contribution by Tenants, amortized over 10 years. Many Small Family-Owned Apartments in Santa Monica are held by senior citizens, disabled, and elderly persons on fixed incomes who will not otherwise qualify for conventional lending. The Santa Monica Housing Committee, which has access to $60,000,000 has failed, and continues to fail and refuse, to provide any low interest loans to Apartment Owners; none.

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