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HomeMy WebLinkAboutCD Affordable Housing Trust Fund Allocations PPTAffordable Housing Trust Fund Allocation San Rafael City Council November 2, 2020 Opening Doors Marin 1) We have a highly effective strategy for addressing homelessness in Marin County •Have become laser focused on the most vulnerable •Have piloted various programs and policies to address these individuals and families •In particular, joined the national Built for Zero Movement •Over the past three years, we have housed nearly 300 people 2) Housing is healthcare, and like medicine, when people get back inside, they do a lot better •Housing First is a data driven best practice that is superior to other housing strategies •Of the people we have housed, over 90% are still housed •In San Rafael, a 50%+ reduction in EMS utilization •In San Rafael, an 80%+ reduction in PD calls for service 3) We are striving for geographic equity with our housing placements •The vast majority of placements are with scattered site landlords •The majority of housing placements are outside of San Rafael •Have worked with landlords from Mill Valley to Novato to Larkspur to Inverness •Have utilized projects like Victory Village in Fairfax and King Street in Corte Madera San Rafael City Council November 2, 2020 Project Homekey ~$600 Million issued as part of HCD Project Homekey •$550 million from Coronavirus Relief Funds (CRF) and $50 million for State General Fund •CRF funds must be expended by December 30, 2020 Funding designated for local public agencies to purchase motels and other housing types in order to capacity to respond to homelessness and the current COVID-19 pandemic. County of Marin applied for three (3) projects: •America’s Best Value-19 units (Corte Madera) •Inn Marin-70 units (Novato) •3301 Kerner-44 units (San Rafael) San Rafael City Council November 2, 2020 Affordable Housing Trust Fund Application-3301 KernerReceived as part of “Rolling Application” process outlined in Trust Fund Guidelines Project Description •Collaboration between County of Marin, Eden Housing, Homeward Bound of Marin •No more than 45 temporary units while 190 Mill Street 2.0 is completed •Once 190 Mill Street 2.0 is completed, conversion to 44 new permanent supportive housing units (would provide RHNA credit) Project Cost:$23,400,000 •Acquisition o Homekey Funding: $5,940,00 (contingent on local funding) o Trust Fund Request: $1,540,000 •Development & Services o Tax credits and other funding sources: $15,920,000 San Rafael City Council November 2, 2020 Fiscal Impact-Affordable Housing Trust Fund Current Trust Fund Balance: $3,573,960 -Funds Available: $2,023,960 •$1,550,500 allocated but not yet appropriated (190 Mill St. & Whistlestop) •Received first installment of $1,843,200 from Loch Lomond BMR Buyout in September -Funding Request: $1,540,000 •Provided as a grant •Funds would go directly to escrow given the Homekey funding deadline •Would reduce available fund balance to $485,960 Note: The Trust Fund will receive an additional $1,843,200 by March 31, 2021, as final installment of the Loch Lomond BMR buyout. San Rafael City Council November 2, 2020 Options 1)Adopt Resolution* 2)Adopt Resolution with modifications 3)Direct staff to return with more information 4)Take no action * Staff Recommendation San Rafael City Council November 2, 2020 Thank You! San Rafael City Council November 2, 2020