Marin County JPA seeks school district support for affordable housing program

In a recent Marin County government meeting, officials discussed a significant initiative aimed at addressing the region's affordable housing crisis through a unique Joint Powers Authority (JPA) partnership involving local school districts. The meeting, held on April 16, 2025, focused on the potential for a guarantor program designed to facilitate the development of workforce housing, particularly for county employees and their families.

Matthew, a key presenter, outlined the refinancing options for the project, noting that while bonds typically cannot be refinanced for the first ten years, there is hope that by then, the housing units will be fully occupied, allowing for a favorable refinancing position. However, he emphasized that budget planning would not rely on this refinancing due to the unpredictability of market conditions over the next decade.

The JPA structure is particularly noteworthy as it accommodates Marin County's 17 smaller school districts, which often lack the capacity to independently finance housing projects. This collaborative approach aims to mitigate risks associated with housing development while ensuring that affordability goals are met. Matthew highlighted that while the program is innovative, it is not entirely without precedent in California, where some districts have pursued similar workforce housing initiatives.

The meeting also addressed the timeline for moving forward with the project. County officials are seeking conceptual approval to signal support for the program, with plans for further discussions and audits to ensure transparency and community engagement. The Navarro School District has already taken initial steps, and other districts, including the College of Marin, are expected to follow suit.

Concerns were raised about the long-term commitment required from participating agencies, which is currently envisioned as a 40-year agreement. Supervisors expressed the need for flexibility in the program to adapt to changing economic conditions, particularly regarding interest rates and construction costs. The potential for a $10 million funding gap was also discussed, with officials acknowledging the need for ongoing assessments as the project progresses.

In conclusion, the meeting underscored the urgency of addressing affordable housing in Marin County through innovative partnerships and careful planning. As the JPA initiative moves forward, county officials are committed to ensuring that the interests of all stakeholders, including school districts and the community, are prioritized in the final agreements. The next steps will involve detailed discussions and legal preparations to solidify the framework for this ambitious housing project.