Affordable Rental Housing
For 30 years, the Alameda County Housing and Community Development Department (HCD) has been providing financing, technical assistance and policy support for the development and preservation of affordable housing throughout Alameda County. HCD has funded over 90 completed projects with 20 more in pre-development or under construction. By 2019, over 2,500 long term affordable units will have been added to the supply of housing affordable for very-low, low and moderate income residents.
HCD administers various funding sources to support the development of affordable housing, including HOME, CDBG, HOPWA, NSP, Affordable Housing Trust Fund, Boomerang Funds and Multi Family Mortgage Revenue Bonds. See the short list below for additional information.
HCD is the Grantee for the HOME Consortium Grant, which covers all of the cities in Alameda County except for Berkeley and Oakland. Funds are made available through an annual Request for Proposals process. Funds may be used to acquire, rehabilitate, and construct housing for lower-income households in the consortium area. HOME funds trigger many federal requirements, some of which can be found on the Federal Crosscutting Requirements document. Complete HOME regulations can be found on HUD's website.
Housing Opportunities for Persons with AIDS (HOPWA):
HCD subcontracts with the City of Oakland (the Grantee) to administer the HOPWA program throughout the County. Funds are made available through an annual competitive Request for Proposals process. Funds may be used to acquire, rehabilitate and construction housing for lower-income households with HIV/AIDS. HOPWA funds trigger many federal requirements, some of which can be found here Federal Crosscutting Requirements. Complete HOPWA regulations can be found on HUD's website.
Multi Family Mortgage Revenue Bonds:
HCD provides access to the Multi Family Mortage Revenue Bond program to qualified developers, and requires those projects that are 4% Bond structure to use HCD as the issuer if HCD has invested other soft financing. By providing tax-exempt multifamily housing financing, the County supports affordable rental units for very low income households throughout the County. This is especially important at a time when federal housing subsidies have been drastically reduced.
For more information contact Michelle Starratt at the Housing Development section.
- Bond Application (WORD - 241kB)
- Term Sheet (EXCEL - 33kB)
- Alameda County Bond Issuance Policies and Procedures
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If you have questions regarding this program area, please contact HousingDevelopment@acgov.org
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