Affordable Housing Fund Guidelines

The Marin Affordable Housing Fund was created in 1988 to provide developers with a local funding source for projects that increase affordable housing in Marin County. The fund assists with various expenses associated with developing and preserving affordable housing, such as new construction, acquisition, or rehabilitation of housing for low income households. The funds can support the following activities:

• Seed/Catalyst funds for very early cost to initiate or expedite project development (such as feasibility analysis or community planning)
• Land or property acquisition for new development.
• Predevelopment (architecture, engineering/soils, environmental reports, financial consultants, etc.)
• Construction (site preparation, construction, materials)
• Gap financing

• Nonprofit organizations, qualified as 501(c)(3) of the Internal Revenue Code
• Public agencies
• Private developers interesting in preserving or developing affordable housing

The Affordable Housing Fund values development that promotes a balanced community. The Housing Trust helps to lift barriers that restrict access to housing choice in order to foster inclusive communities and achieve racial equality, fair housing choice, and opportunity for local workers and current future residents of Marin. 

• Affordable Housing Funds should be used to increase availability of affordable housing. 
• It should help low-, very low-, and extremely low-income families, individuals, local workers and people with special needs.
• Both new construction and preservation are eligible for trust fund allocations. 
• Approximately 25% of funds are for preservation/rehabilitation and 75% are for new construction or converting from non-residential to residential.

Under State Assembly Bill 686 Affirmatively Furthering Fair Housing (AFFH), the County is required to address barriers to fair housing choice and provide housing opportunities for lower income families and individuals near high quality schools, employment opportunities and public transportation, also known as “high resource areas.”

Projects meeting at least one of the criteria below will be prioritized:

• Promote fair housing choice and that affirmatively further fair housing
• Leverage other funding sources
• Located in a high resource area
• Located in unincorporated Marin County
• Help the County meet its Regional Housing Needs Allocation
• Homeownership

The Affordable Housing Fund prioritizes projects that are located in unincorporated Marin. Projects located outside of unincorporated Marin are eligible for funds if contributions are made by its local government city or town. City or town contributions can include:

• Waving planning and building fees.
• If a local jurisdiction has a housing fund, it must also provide a match through that fund.
• Land donations and other funding contributions. 

The Affordable Housing Fund generally funds $50,000 per unit. In some circumstances, that amount could increase up to $100,000 depending on:

• Available funds
• Project type
• Location
• Number of bedrooms
• Level of housing affordability and term of affordability restriction.

Higher per-unit fund levels will be considered when the project location is in a high-resource area and if it meets other objectives to affirmatively further fair housing.

Affordable Housing Funds are generally available in the form of a loan. Loan length and terms will vary based on:

• The project needs 
• Availability of financing and financing method
• Development plan 
• Organizational capacity of the applicant

Loans can be paid by maturity date or in installments, ranging from 3 months to 55 years. The Board may also award grants, especially for smaller requests, to meet the affordable housing goals.