Santa Clara County authorized $123 million for 1,000 affordable housing units. The funding approved by the Board of Supervisors Tuesday comes from a $950 million housing bond voters passed in 2016.
The allocation OK’d this week will pay for six new below-market-rate rental projects and three refurbished buildings in six cities: San Jose, Santa Clara, Milpitas, Cupertino, Gilroy and Morgan Hill. That brings the total number of units funded by Measure A to 1,921 to date, a third of its target of 4,800 affordable homes by 2026.
Some $94 million will fund 620 apartment units, some reserved for low-income residents and some for formerly homeless residents who require on-site support services. Another $29 million will rehab 484 apartment units. Every dollar of county money activates $2.78 in state and federal matching grants or private investment, officials say.
Supervisor Joe Simitian called the latest funding allocation “another significant milestone” in addressing the regional housing shortage and affordability crisis.
“Our efforts to create affordable and supportive housing is benefiting families, veterans, teachers, nurses, single parents, senior citizens, the disabled, foster youth, the homeless and individuals with special needs in our community,” he said in a news release issued hours after the vote Tuesday. “It’s not enough, but it’s real and tangible progress.”
Before Measure A, the county only had about 250 supportive housing units. Since 2015, the county, local nonprofits and cities have upped that number to 1,537—though only 151 are occupied so far. Another 586 are under construction and 800 are in the pipeline.
“These new projects are much more than just affordable housing,” Supervisor Ken Yeager said. “We’re helping some of our most vulnerable residents. Projects in midtown San Jose and Santa Clara will have significant numbers of apartments dedicated to those with special needs and to homeless seniors. These will save lives.”
Supervisor Cindy Chavez applauded the county for staying ahead of schedule on Measure A projects. “By sticking to our plan, we are keeping our word with voters,” she said.
Source: sccgov.org
Easy to be generous when it’s other people’s money isn’t it ? For the number of individuals who will benefit for that price tag (and that’s assuming no cost overruns) It’s shameful use of tax dollars!
Why doesnt every homeless outreach housing option or low income supplement include sweat equity? There was a program years ago that PACT helped set up for homes on San Antonio St where families had to put time and WORK for the opportunity to own a small new home at reduced rate. thats a program worth supporting but the no investment free handout is not!
> Santa Clara County OK’s $123M for 1,000 New Affordable Homes
Hooray! Free money from the government!
5,000 more Democrat voters.
Isn’t democracy wonderful!
> Hooray! Free money from the government!
Indeed! HUD loans are at 2-3%, with a free graft from the county there’s no interest! Now they’re free to build those section 8 cages that come with guaranteed monthly rent from the fed. It’s a win-win for wealthy slumlords with political connections.
> It’s a win-win for wealthy slumlords with political connections.
When you put slop in the trough, the pigs aren’t the only ones who get to eat.
When are we going to provide “affordable housing” for people who actually work and contribute, rather than giving it to drug addicted, or mentally ill human weeds? I would rather not sit in traffic for 3-4 hours a day because I can’t afford to live any closer to my job in the Bay Area but now people who don’t work and therefore don’t have to commute or go anywhere but the nearest government giveaway center are going to get a house? What the hell, can I at least get a low cost parking space then?!?
We’re creating an environment which, through the process of Natural Selection will create a population consisting of an overwhelming proportion of the sort of people who expect to be taken care of.
Entitlement for voters.