Frequently Asked Questions

The Marin Workforce Housing Trust is a unique public/private partnership between the Marin business community, the Marin Community Foundation and the County of Marin.  The Trust was created to meet the challenges of housing affordability for workers in Marin County.  Through our revolving loan fund we provide low-interest rate loans to nonprofit and for-profit developers for the construction, rehabilitation and preservation of homes affordable by working familes, the retired workforce and those most vulnerable in our communities.  We also provide financing solutions to improve housing for agricultural workers and their families.

The major employers in Marin County, in conjunction with the San Rafael Chamber of Commerce, initiated the idea of a housing trust as an innovative new source of funding for workforce housing.  A partnership was formed between the business comunity, the Marin Community Foundation and the County of Marin.  Today, our partners represent many diverse segments of the business, philanthropic and nonprofit communities as well as individuals who support the mission, vision and objectives of the Trust.

The Marin Workforce Housing Trust is a nonprofit public benefit corporation with 501 (c) (3) status.  Donations are tax deductible.  In addition to donations, some of the Trust's funding is from longer term investments from banks.  Contributions and investments from the business community and individuals are matched dollar-for-dollar by both the Marin Community Foundation and the County of Marin, thereby tripling the value of each commitment.

The mission of the Marin Workforce Housing Trust is to act as a catalyst for and provide direct financial support for homes affordable to the workforce in Marin County; bringing together the support of the whole community, including local businesses, governments, residents and philanthropic organizations.  We recommend, support, educate, speak and write in favor of workforce housing emphasizing the economic, social and environmental value of homes affordable to people who work in Marin.  We inspire, motivate and connect individuals and organizations in local government and the community to work together to provide financial and other assistance to the development of workforce housing.  In executing our mission we collaborate with advocacy groups whose missions are complementary. 

The Trust was established primarily to support the development of workforce housing. A portion of our funding is set aside for units affordable to households at 30% of the area median income (AMI) and below as established in the HUD guidelines each year. Generally our funding will be used for units affordable to households earning 80% or less of AMI. In addition, a portion of our total funding will be set aside for projects that create housing for those most vulnerable in our communities.

The Marin Workforce Housing Trust board currently has ten directors, three selected from the business community, three selected by the County of Marin, three selected by the Marin Community Foundation and one at large member selected by the board. Please visit our board bios page for more information.

The Marin Workforce Housing Trust is led by Linda Wagner, a housing finance and real estate professional with a strong commitment to housing affordability. Please visit our Management page for her bio and contact information.

Marin Workforce Housing Trust loans are targeted to fill critical gaps in existing affordable housing finance, as "first-in" money to purchase land, secure sites and fund pre-development work and as "last-in" money to close the funding gap for developments that otherwise would not be able to be built. When construction is complete, the loans are repaid and reinvested in other projects. Generally our loans fall into the following categories:

• Catalyst
• Pre-development
• Acquisition
• Acquisition/rehabilitation
• Construction (Gap)
• Mini-permanent

Qualifying projects include new construction, acquisition or rehabilitation of multi-family rental property for lower income households. Marin Workforce Housing Trust funds will be used for projects where housing is the primary focus. Projects may include components of commercial uses, shared housing developments, group homes and other affordable housing models. Chemical and alcohol dependency facilities, correctional facilities, medical treatment facilities, nursing homes and student housing are ineligible.

Primarily we provide financing to developers of rental housing. A portion of our funding may be applied to support affordable homeownership,  We also recently launched a new program to improve housing for agricultural workers and their families.

Both nonprofit and for-profit developers are eligible.  Also eligible are ranchers seeking to improve housing for their workers. 

Generally our loans will be targeted to the development of new multi-family rental housing. Rehabilitation projects are eligible if they create new affordable housing and/or preserve the long-term affordability of the project.  One of our success stories is a rehabilitation and preservation project.

Those most vulnerable include the elderly, disabled, female-headed households, large families, farm workers and homeless families or those precariously housed.

Generally each project is limited to a maximum of $500,000 with some loan types having smaller maximum levels. This funding limit will help ensure the equitable distribution of our resources countywide.

Application information can be obtained in the Loan Programs section of the website. Applications are accepted on a continuous basis. Prior to submitting a fully documented application, applicants can submit a preliminary application and talk with the Executive Director regarding eligility.

In addition to projects that meet workforce housing needs and the affordability guidelines, preference will be given to projects with a high likelihood of being successfully developed based on the skills and experience of the development team and projects which leverage other funding to the extent necessary.

Loans are reviewed by the Program and Lending Committee and then underwritten by the Opportunity Fund. The Marin Workforce Housing Trust Board of Directors makes all final approval or denial decisions.

Interest rates are amended from time to time by the Board of Directors.  Please contact the Executive Director for more information and to discuss your project.