San Rafael, CA – More money is available for affordable housing developers to create new homes in Marin County and preserve existing affordable units. This year, the County of Marin anticipates receiving $1,127,763 to distribute from a State of California fund that is helping local municipalities address high housing costs and a shortage of homes.
The Marin County Community Development Agency accepts application for local Affordable Housing Funds on an ongoing basis. The funds are boosted by an additional match through Marin’s allocation of State Permanent Local Housing Allocation (PLHA) funds, fueled by money from real state recording fees. The matching PLHA funds will be awarded to eligible applications received through February 17.
The former U.S. Coast Guard housing facility in Point Reyes Station is an example of a project that has benefited from the County's Affordable Housing Fund.In its ongoing recognition of a severe local shortage of local affordable housing, the Board of Supervisors has a track record of supporting the efforts through its Affordable Housing Fund. The Board decided in August 2020 to match future PLHA contributions from the state with local dollars from the County Affordable Housing Fund and funds from Marin cities and towns.
Marin has some of the highest home prices and development costs in the country. The median local price for a single-family detached home has hovered around $1.2 million in recent years, and typical rents range from $2,500 to $3,400. During the COVID-19 pandemic, there has been increased concern about homelessness in Marin and how the Housing First approach is the best solution.
Well before the public health emergency, the Supervisors made the preservation of affordable housing and prevention of displacement top priorities as more and more Marin residents expressed concern about being priced out of the county because of high rents and mortgages.
The local Affordable Housing Fund is a source of financial and technical assistance to help developers create and preserve affordable housing for low- and very-low-income households. The Affordable Housing Fund is designed to support projects in all jurisdictions in Marin, including towns and cities, but with a priority for multifamily projects in unincorporated areas that house those earning at or below 60% of the area median income, or about $109,000 for a household of four. Affordable Housing Fund allocations must be approved by the Board of Supervisors.
In the past five years, the County has invested nearly $11,247,600 of Affordable Housing Fund money, which has directly led to the creation or preservation of about 300 affordable homes. Recent examples of Affordable Housing Fund allocations include projects in the works for the transformation of a former U.S. Coast Guard family housing development in Point Reyes Station, a Homeward Bound of Marin project in Novato’s Hamilton area, and a Homeward Bound project in the Canal neighborhood of San Rafael.
The mission of the County’s Affordable Housing Program, managed by the CDA, is to preserve and expand the range and supply of adequate, accessible, and affordable housing through housing policies, regulations and programs. The Board and CDA staff work in tandem to increase the local stock of affordable housing for the sake of enhancing socioeconomic balance in local communities. The effort has been assisted by PLHA money, which is anticipated to total $4,353,426 over a five-year period.
Learn more by checking the Affordable Housing Fund implementation guide and funding application on the County’s Affordable Housing webpage. Questions may be directed toward Housing staff by email or by phone at (415) 473-7309.