Frequently Asked Questions - Eligible Projects and Developers

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 four categories:

• Pre-development
• Acquisition
• Construction
• 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,

Both nonprofit and for-profit developers are eligible.

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.