HomeMy WebLinkAboutExhibit 4 (Measure A Information Sheet)BUILDING HOMES, CHANGING LIVES
2016 Affordable Housing Bond Progress
2016 Measure A Production Goals & Progress
PSH** to Assist Homeless Persons with DisablingConditions & their Families
RRH** to Assist HomelessWorking Families &Individuals RegainPermanent Housing
HousingAffordable toELI** Individuals& Families
Housing Affordable to VLI** Individuals& Families
Housing Goal 1,800
821821
1,600
125
800
197
600
273 1,416***Approved Units
4,800
**PSH (Permanent Supportive Housing), RRH (Rapid Rehousing), ELI (Extremely Low Income), VLI (Very Low Income)
***103 additional units of affordable housing and apartments for building managers bring the total to 817 new apartments approved within Year 1.
Total
Funding Allocations for Voter Approved 2016 Measure A Housing Bond Total of $950 million
When Will These Homes Open?‡
Extremely Low Income
Below 30% of AMI†
Multifamily Rental
Very Low-Income
31-50% of AMI†
Multifamily Rental Multifamily Rental & Homebuyer Programs
Moderate Income
50-120% AMI†
$100million$150million
$700million
†Area Median Income (AMI)
Initial Housing Bond Issuance of $250 million
$111.03 million
Approved Supportive HousingDevelopment Program
$25 million
Approved First-time Homebuyer Down Payment Assistance Loan Program Approved Supportive Housing Pre-development Fund
$102.07 million
Available Balance
$147.93 million
Total Approved
$11.9 million
Details of the developments that make up this timeline can be found on the next page.
‡ Apartment openings are based on projected construction timelines, which are subject to change.
217 288 352
792
1073
12801362
1596
18411921
19
352
792
1073
1362
198198 7171 6464 135135
305305
102102
179179 207207 8282 234234 245245 8080
2019 Q12019 Q22022 Q12022 Q22019 Q32019 Q42020 Q12020 Q22020 Q32020 Q42021 Q12021 Q22021 Q32021 Q4New Units
Acquisition & Rehabilitation
The Housing Bond provides the means for the County to give our community’s poorest and most vulnerable
residents a fresh start. Many of our veterans, teachers, nurses, single parents, senior citizens, the disabled, foster
youth, victims of abuse, chronically homeless, and individuals suffering from mental health or substance abuse
illnesses are in need of innovative and effective housing solutions.
www.supportivehousingscc.org/housingbond
In November of 2016, Santa Clara County voters approved a
$950 million Affordable Housing Bond. It is projected that the
Housing Bond will fund 120 new affordable housing developments
over ten years, including 4,800 new units dedicated to Extremely
Low-Income and Very Low-Income households. In addition, the
County will establish rental and ownership opportunities for
Moderate Income households.
Villas on the Park
NEW
APARTMENTS
$234,180,000
IN MULTI-FAMILY HOUSING DEVELOPMENT APPROVED6 CITIES
HOUSING DEVELOPMENTS19
1,437
*As of December 18, 2018
$25 MILLION
FIRST-TIME HOMEBUYER PROGRAM
YEAR 2 IMPLEMENTATION
484 UNITS RENOVATED
Exhibit 4
The County’s Office of Supportive Housing is leading efforts
to increase the supply of housing by funding and spurring
the development of housing for low-income households
with a prioritization for the poorest and most vulnerable
residents who are disproportionately impacted by the lack
of affordable housing.
THE SOLUTION TO
HOMELESSNESS IS
MORE AFFORDABLE HOUSING
HOUSING
DEVELOPMENTS CITY
PROJECTED
OCCUPANCY
DATE*
SUPERVISORIAL
DISTRICT
TOTAL #
UNITS
SUPPORTIVE
HOUSING
COUNTY
DEVELOPMENT
FUNDING
NEW UNITS
The Veranda Cupertino May 2019 5 19 6 $1,000,000
Crossings on Monterey Morgan Hill Dec 2019 1 39 20 $5,800,000
Gateway Senior Apartments Gilroy Dec 2019 2 75 37 $7,500,000
Villas on the Park San Jose Dec 2019 2 84 83 $7,200,000
Quetzal Gardens San Jose Apr 2020 2 71 24 $9,830,000
Leigh Avenue Senior Apts.San Jose Feb 2020 4 64 63 $13,500,000
North San Pedro Apartments San Jose July 2020 2 135 109 $7,200,000
Sango Court Apartments Milpitas Sep 2020 3 102 40 $16,000,000
Corvin Apartments Santa Clara Jan 2021 4 146 80 $29,000,000
Evans Lane Community Village San Jose Feb 2021 2 61 30 $12,000,000
Page Street Apartments San Jose May 2021 4 82 27 $14,000,000
Blossom Hill Development San Jose Sep 2021 1 147 49 $19,100,000
Alum Rock Family Housing San Jose Aug 2021 2 87 43 $15,650,000
Agrihood Sr. Apts.Santa Clara Jan 2022 4 165 54 $23,550,000
West San Carlos Housing San Jose Jan 2022 4 80 40 $9,300,000
Roosevelt Park San Jose Apr 2022 2 80 40 $14,400,000
NEW UNITS TOTAL:1,437 745 $205,030,000
RENOVATED UNITS
Markham I San Jose Sep 2020 2 153 40 $7,000,000
Markham II San Jose Sep 2020 2 152 50 $7,200,000
Curtner Studios San Jose Dec 2020 2 179 111 $14,950,000
RENOVATED UNITS TOTAL:484 201 $29,150,000
TOTAL UNITS:1,921 946 $234,180,000
2016 Measure A Production Goals & Progress
PSH** to Assist Homeless Persons with DisablingConditions & their Families
RRH** to Assist HomelessWorking Families &Individuals RegainPermanent Housing
HousingAffordable toELI** Individuals& Families
Housing Affordable to VLI** Individuals& Families
Housing Goal 1,800
821821
1,600
125
800
197
600
273 1,416***Approved Units
4,800
**PSH (Permanent Supportive Housing), RRH (Rapid Rehousing), ELI (Extremely Low Income), VLI (Very Low Income)
***103 additional units of affordable housing and apartments for building managers bring the total to 817 new apartments approved within Year 1.
Total
Funding Allocations for Voter Approved 2016 Measure A Housing Bond Total of $950 million
When Will These Homes Open?‡
Extremely Low Income
Below 30% of AMI†
Multifamily Rental
Very Low-Income
31-50% of AMI†
Multifamily Rental Multifamily Rental & Homebuyer Programs
Moderate Income
50-120% AMI†
$100million$150million
$700million
†Area Median Income (AMI)
Initial Housing Bond Issuance of $250 million
$111.03 million
Approved Supportive HousingDevelopment Program
$25 million
Approved First-time Homebuyer Down Payment Assistance Loan Program Approved Supportive Housing Pre-development Fund
$102.07 million
Available Balance
$147.93 million
Total Approved
$11.9 million
Details of the developments that make up this timeline can be found on the next page.
‡ Apartment openings are based on projected construction timelines, which are subject to change.
217 288 352
792
1073
12801362
1596
18411921
19 198198 7171 6464 135135
305305
102102
179179 207207 8282 234234 245245 8080
2019 Q12019 Q22022 Q12022 Q22019 Q32019 Q42020 Q12020 Q22020 Q32020 Q42021 Q12021 Q22021 Q32021 Q4New Units
Acquisition & Rehabilitation
To see a map of supportive housing developments in Santa Clara County, please visit www.supportivehousingscc.org/map.20192020202020212022*As of December 2018. Apartment openings are based on projected construction timelines, which are subject to change.