Costa Mesa’s police housing program has few takers

Greg Risling

COSTA MESA -- A city program that was designed to encourage police

officers to live where they work has only attracted four applicants in

its first year, officials say.

The first-time home buyer deal, which was created last year,provided

enough money to lend 18 officers down payments on their homes.

But the favorable financing hasn’t garnered as much attentionfrom

officers as planned, leaving a hefty balance -- about $216,000 -- sitting

in the bank.

“We were expecting a few more officers to respond,” said Muriel Ullman,

the city’s Neighborhood Improvement manager. “We haven’t done a loan

since March. We thought it was a good opportunity.”

The opportunity is lucrative. There are no required income limits.

Applicants must be first-time home buyers and put down a 5% payment. The

loan program also allows $10,000 of an officer’s application to be

forgiven over a 10-year period.

Yet there are many reasons why officers aren’t signing up for the

program. Many of them already own homes or don’t want to work and live in

the same city. A survey taken last year estimated 20% of the city’s

police live in Costa Mesa.

“I think it’s not so much the concern about living in the city they work

in so much as the present rate of interest for loans,” said Garth Wilson,

president of the Costa Mesa Police Association.

“There is plenty of money in the account for the program but probably

there will be a push after the first of the year when the interest rates

go down. Right now probably wouldn’t beadvantageous.”

With more than $200,000 sitting in the bank waiting for takers, some

residents may not feel their tax dollars are being put to the best use.

Mayor Gary Monahan, who supported the program to further the

community-oriented policing philosophy, said it may be too early to

evaluate the program and reallocate funds.

“We’re not even halfway through the fiscal year,” he said. “We might see

more officers apply at the beginning of the year. It’s too early to make

a decision right now.”