09 - Laserfiche WebLink

Attachment 2 2016 Alameda County Affordable Housing Bond Fact Sheet We have a HOMEOWNER Programs: 1-10 1-lousing C r i S' Down Payment Assistance Loan Program ram Y 9 ($50M)GOAL:to assist middle-income working in Alameda County. families to purchase homes and stay in Alameda County. Affordable housing is getting harder and harder to find.It's too expensive and out of reach for many seniors,veterans,people Homeowner Housing Development Program with disabilities,low-income families and others most in need. ($25M)GOAL:to assist in the development of While many working families now spend 50%or more of their housing,improve the long-term affordability of income on housing,state and federal funding for affordable housing for low-income households,and help homes has decreased 89%. Experts estimate a current shortfall of first-time homebuyers stay in the county. more than 60,000 affordable homes in Alameda County for very Housing Preservation Loan Program low-income families,with at least 5,000 homeless,and hundreds • ($45M)GOAL:to help seniors,people with of thousands of working residents needing help—NOW. disabilities,and other low-income homeowners to remain safely in their homes.Provides small loans A \lj Sol ' n to pay for accessibility improvements,such as a b'e ut O ramps,widened doorways,and grab bars.Provides rehabilitation loans for deferred maintenance hasemerged ■ such as roofs,plumbing,and electrical systems to seniors/people with disabilities/low-income Alameda County elected officials,policy makers,and community households at 80%of area median income. members have been collaborating to find a solution.The solution has emerged:An AFFORDABLE HOUSING BOND on RENTAL HOUSING Programs: the November ballot.The goal of this bond is to create and protect affordable housing options for people who need it most Rental Housing Development Fund in Alameda County—seniors,veterans,people with disabilities, ($425M)GOAL:to create and preserve affordable and many in the workforce whom we count on to help deliver rental housing for vulnerable populations, essential services,including teachers,electricians,plumbers, including lower income workforce housing. EMT workers and others who simply can't find affordable Developments will remain affordable over the housing close to where they work in Alameda County. long-term—estimated to be for at least 55 years. er. Innovation and Opportunity Fund ($35M)GOAL:to respond quickly to capture IA!h at S iii c l u d ed opportunities that arise in the market to preserve pP P i n the lVleasu and expand affordable rental housing and/or prevent tenant displacement- e.g.rapid response, high-opportunity Three BIG GOALS: predevelopment and site acquisition loans. Help people who are struggling with FUNDING Allocations: housing costs. Art Funding will be allocated throughout Alameda Help the homeless and other vulnerable Iho County.Homeowner program funds and rental populations with long-term affordable innovation program funds to be allocated countywide.For allocation of Rental Housing housing. Development Program funds,see charts on the back of this sheet. Help people buy homes.