The Affordable Housing Program is part of the Community Development Department. The program provides both rental and ownership units to households of very-low, low, and moderate incomes. Hisorically, the City has been able to provide some funding for housing developers who develop affordable housing. Since 2000, the City assisted in the construction of over 700 units of affordable housing as part of the Hamilton Airfield revdevelopment as well as other deed restricted units throughout the City.
Novato already has a significant amount of affordable housing that meets State requirements. The following are PDF links to a list and map of existing affordable housing within the City of Novato. The list and map provide the project’s name, location, number of units and level of affordability. The level of affordability is based on Marin County’s Area Median Income (AMI) - currently $103,000/year (for 2013) for a family of four. The affordability of the units is guaranteed by deed restriction and the units are monitored for compliance by the City.
Here are brief summaries of the programs that the Affordable Housing Program has to offer:
Below Market Rate (BMR) Ownership Housing Program
The Below Market Rate (BMR) program is a home ownership program. The units in the program are sold below the market rate value of the unit, and exist throughout the City of Novato.
At its December 11, 2012 meeting, the City Council contracted with Hello Housing to manage the BMR ownership program for the City of Novato. For questions about sales, resales or refinancing, please contact Matt Warner at Hello Housing at 415-689-7746 or via email at firstname.lastname@example.org.
BMR Rental Program
There a number of affordable Below Market Rate (BMR) rental units provided throughout the City. The rents are restricted for households of very-low and low incomes. Please go to the links page for more information about affordable rental developments in the City of Novato.
Novato Affordable Rental Housing (not including senior rental housing)
Novato has both affordable ownership and rental developments for seniors. Senior is defined as 55+ years old. Villa Entrada is the senior affordable ownership development. The Villas at Hamilton and Novato Rotary Club provide rental housing for seniors.
The City also assists in funding affordable housing developments. Developers constructing affordable housing may request that the City provide "gap financing" to complete the needed funding for the project. The City also participates in the County's Community Development Block Grant (CDBG) program. The City receives an annual allocation from the County to help fund a variety of projects and services that benefit low income households.
For more information on the CDBG program, and the availability of monies that could be used towards affordable housing proposals, please contact Roy Bateman at the Community Development Agency of the County of Marin at 415-473-6698.
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