SIERRA GARDEN APARTMENTS’ NEW FACE LIFT

South Lake Tahoe, CA – May 7, 2007 - Saint Joseph CLT has partnered with PAM Development, an experienced affordable housing developer in Lodi California, and Bucky Fong, an experienced affordable housing developer and architect, to purchase Sierra Gardens Apartments, a 76 unit affordable housing development in South Lake Tahoe with HUD and HOME partnership funds through the South Tahoe Redevelopment Agency (STRA). This purchase guarantees the apartments future affordability, and has resulted in physical improvements to the property.

Saint Joseph Community Land Trust (SJCLT) is a democratically controlled nonprofit corporation with a mission to improve the quality of life for individuals and families who cannot otherwise afford housing, by acquiring real estate and developing programs to benefit communities in the Lake Tahoe Region. The Corporation acknowledges the right of every person to have decent and dignified housing, and strives to create an inventory of quality homes that are permanently affordable. SJCLT does not discriminate for reasons of age, race, color, religion, sex, national origin or disability.