Bid for Home-Buying Assistance Opposed

Saying the money should be used for downtown housing instead, the Ventura City Council decided early Tuesday against spending $1 million for down payment assistance to low- and moderate-income home buyers.

The housing assistance program, which was proposed by Councilwoman Rosa Lee Measures, would have provided down payment help to about 40 families. Eligible residents would have received up to $30,000 in loans and would have to put down a minimum of 5% of the value of the home from their own funds.

“If we don’t move, we will lose the opportunity because interest rates are beginning to go back up,” Measures said.

The plan also had the backing of Councilmen Jack Tingstrom and Jim Monahan, but the remaining council members rejected it because they would rather have the money go for multiunit housing in the downtown area, which city leaders are trying to revitalize.

“We should put our money where our mouth is,” said Councilman Gregory L. Carson, who advocated that the money be spent for downtown. “I’m not willing at this point to commit that money to help 40 people buy houses.”

When Measures realized that Carson, Councilmen Gary Tuttle and Steve Bennett and Mayor Tom Buford intended to vote against her proposal, she withdrew the motion.

The $1 million comes from money left over after the city recently paid off housing bonds.