OAKLAND WILL BE RECEIVING more than $40 million in funding to boost the development of its housing units for residents of low-income households, city officials said.
A grant amounting to $40,769,344 will be given to Oakland by the California Housing and Community Development department through the Infill Infrastructure Grant Catalytic (IIGC) program, city officials said in a news release on Monday.
The funds will be used to develop more than 670 housing units in the areas of Lake Merritt BART Senior Housing; 285 block of 12th Street; 121 block of East 12th Street; Liberation Park Market Hall, Cultural Hub and Residences; West Oakland BART Transit Oriented Development; Villa Oakland; and Villa Fruitvale.
The housing units will be affordable to residents who earn between 20 percent and 80 percent of the city’s median income, according to city officials.
“This $40M grant will help advance our goal of increasing the number of affordable, permanent housing units available to Oaklanders, in an equitable and environmentally responsible way.”Mayor Sheng Thao
“This $40M grant will help advance our goal of increasing the number of affordable, permanent housing units available to Oaklanders, in an equitable and environmentally responsible way,” Mayor Sheng Thao said in a statement.
The funds will also be used for vegetation clearing and erosion control, construction of a new sewer main, and road enhancements, among others, city officials said.
Besides the IIGC grant, the city has also secured $2.3 million funding from the Department of Housing and Urban Development to boost employment and increased earning opportunities for residents of public housing in East Oakland, city officials said.
In June, the Oakland City Council closed a historic $360 million budget deficit and made an investment in affordable housing by passing the city’s next two-year budget.
As thousands continue to be homeless in Oakland, Thao’s administration has vowed to address the city’s crisis by prioritizing housing affordability for residents.