Marin County is letting developers know that more money is now available to create new homes and address the county’s affordable housing issues.
This year, $1.1 million is anticipated from a state fund to help municipalities address high housing costs and a shortage of homes, a spokesperson for the county said.
The Marin County Community Development Agency accepts applications for affordable housing funds “on an ongoing basis,” the county said, with additional funding matched through Marin’s allocation of State Permanent Local Housing Allocation (PLHA) funds, which come from real estate recording fees.
The Marin Affordable Housing Fund assists developers with creating and preserving affordable housing for low and very-low income households, with an emphasis on households earning 60 percent of the median income, they said.
Marin has some of the highest home prices and development costs in the country, the county claims, with a median price for a single-family, detached home “hovering” around $1.2 million. Rents typically range from $2,500 to $3,400, they said.
Housing fund allocations must be approved by county supervisors. To date, $11. 2 million of affordable housing money has gone to 300 affordable homes, according to the county.
Developers can learn more about these funding opportunities on the county’s website.