Marin Community Foundation Provides $3 Million for Affordable Housing Projects

Marin Community Foundation Provides $3 Million for Affordable Housing Projects

The Marin Community Foundation in Larkspur, California, has announced more than $2 million in grants and nearly $1 million in loans to fund three new affordable housing projects in Northern California's Marin County.

The Bolinas Community Land Trust received a $300,000 grant and a loan of $144,000 to transform a vacant bakery in downtown Bolinas into six rental units for people who work in fields such as childcare, health care, and education. The foundation also provided a grant and loan worth a total of nearly $2 million to the Marin Continuum of Housing and Services to build thirty-four transitional housing units for low-income residents who have faced difficulties such as homelessness, domestic violence, and mental and physical disabilities. The third grant of $434,133 will allow the Ecumenical Association for Housing to work with a private developer to build twenty-four affordable rental units near Larkspur Landing. The development will eventually house very low-income families, with some units reserved for people suffering from AIDS.

The grants are part of a five-year, $10 million affordable housing initiative launched by the foundation a year ago. In addition to the most recent awards, it has provided grants and loans totaling nearly $3 million for several other affordable housing efforts in Sausalito, Corte Madera, Mill Valley, and San Rafael.

"Collectively, these projects are a wonderful way to mark the first anniversary of the announcement of our long-term commitment to affordable housing in Marin," said Thomas Peters, president and CEO of the foundation. "We wanted to take advantage of several possibilities for affordable housing in the County, and we applaud those who are bringing them to fruition....We all have a long way to go toward meeting our community's housing needs, but the variety and creativity of these efforts — and the groups working on them — are setting a high standard for how we need to move forward on this critical issue."

"Marin Community Foundation Announces Support of Three Affordable Housing Projects" Marin Community Foundation Press Release 04/09/2002.