SEAL BEACH
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The City Council gave final approval earlier this week to Redevelopment Agency bonds for the purchase of the Seal Beach Trailer Park by residents partnering with a nonprofit housing development corporation.
The council also voted to subsidize low-income residents to help with the space rent increase for the first three years of the park’s new property loan.
A state-funded loan is also being used to finance the $7.6-million price for the low- to moderate-income trailer park. A spokesman for LINC, the group helping the residents, said he expects the sale to be completed in mid-December.
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