Marin Community Foundation Unveils $10 Million, Five-Year Affordable Housing Plan; Initiative Supports Rehabilitating Vacant Homes, Facilitating Land-Use Planning, Upgrading Farm Worker Housing.

Byline: Marin Community Foundation

NOVATO, Calif., June 30 (AScribe Newswire) -- The Marin Community Foundation (MCF) has announced a $10 million, five-year plan aimed at increasing the amount of affordable housing for low-income families, seniors, and other individuals and families in Marin.

The initiative, developed in conjunction with local nonprofit affordable housing developers, advocates, funders, and community agencies, tackles barriers that have traditionally stalled the County's development of affordable housing. Strategies will include encouraging effective zoning changes, turning foreclosed homes into affordable options, developing new rental units, and creating safe and livable housing for Marin's agricultural workers and their families.

"Despite lowered property values caused by the economic downturn, Marin continues to be one of the most expensive places to live in the country," stated MCF President Thomas Peters in announcing the plan. "We want to help make it possible for more residents to be affordably housed and to reduce the negative environmental effects of the current pattern of 'forced' commutes."

"One immediate and innovative component of the new initiative will be to turn the availability of foreclosed homes into a double-win," added Peters, "benefitting both families and neighborhoods." Habitat for Humanity and Northbay Family Homes are partnering with the Foundation to rehabilitate some of these vacant Marin residences, using, wherever possible, sustainable and energy-efficient materials in the upgrades. With the help of participating banks, these refurbished homes will then be made available for purchase by low-income families.

"These are one-time opportunities to leverage federal and state programs, along with savings accounts established by the families themselves, to help them acquire permanently affordable homes," said Peters. "There is a growing realization across the country that refurbishing foreclosed homes creates opportunities for home ownership and helps retain the viability of affected neighborhoods."

The Foundation will also continue its extensive track record of funding newly built rental units for seniors and low-income families, including, for example, a new 60-unit affordable apartment complex for seniors in Novato.