2016 Alameda County Affordable Housing Bond
On June 28, 2016, the Alameda County Board of Supervisors adopted Resolution No. 2016, which called for a bond election and submitted an affordable housing bond ballot measure for approval by Alameda County's electorate during the November 8, 2016 General Elections.
The goal of this bond is to create and protect affordable housing options for people who need it most in Alameda County–the homeless, seniors, veterans, the disabled, and many in the workforce whom we count on to help deliver essential services, including teachers, electricians, plumbers, EMT workers and others who simply cannot find affordable housing close to where they work in Alameda County. The bond also aims to help people buy homes.
This Measure will raise up to $580 million for affordable housing across Alameda County. All funds from the proposed bond must stay local and be dedicated to affordable housing needs in Alameda County only. The funds will be allocated to a combination of rental housing and homeowner programs.
Rental Housing Programs
- Rental Housing Development Fund ($425M): To create and preserve affordable rental housing for vulnerable populations, including lower-income workforce housing.
- Innovation and Opportunity Fund ($35M): To respond quickly to capture market opportunities to preserve and expand affordable rental housing and/or prevent tenant displacement.
- Down Payment Assistance Loan Program ($50M): To assist middle-income working families to purchase homes and stay in Alameda County.
- Housing Preservation Loan Program ($45M): To assist low-income seniors, people with disabilities, and other low-income homeowners to remain safely in their homes by providing small loans for accessibility improvements and rehabilitation loans for deferred maintenance.
- Homeowner Housing Development Program ($25M): To assist in the development of housing, improve the long-term affordability of housing for low-income households, and help first-time homebuyers while staying in Alameda County.
While funding for the homeowner programs and rental innovation program funds will be allocated countywide, funds for the Rental Housing Development fund will be allocated regionally.
For more information about the Affordable Housing Bond, we encourage you to checkout our 2-Page Affordable Housing Bond Fact Sheet.
- Proposed $580 Million Affordable Housing General Obligation Bond Program Summary, June 28, 2016.
- Alameda County Board of Supervisor's Resolution No. 2016.
- Presentation to the Alameda County Board of Supervisors on the Alameda County General Obligation Bond for Housing: Housing Program.
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