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Board backs TEFRA authority for two affordable housing projects after lengthy public comment from Marin City residents
Summary
After a public hearing with extended Marin City testimony about flood risk, fiscal transparency and past litigation, the Board voted to recommend the California Municipal Finance Authority issue tax-exempt bonds (not county debt) up to $60 million for two related projects (42 units in Marin City and 32 units in Mill Valley).
The Marin County Board of Supervisors voted to recommend that the California Municipal Finance Authority (CMFA) issue tax-exempt bonds, in a "not to exceed" amount of $60,000,000, to finance two related affordable housing projects: the revised Drake Avenue project in Marin City (42 units) and a second site at 156 Shoreline Avenue in Mill Valley (32 units).
Community Development Agency Director Sarah Jones outlined the project history, including that an initial SB 35 project approved at 74 units was revised through an alternative project agreement to split the development into two sites. Principal planner Emmanuel Barakat and CMFA representative Travis Cooper said the county is not financially liable for the tax-exempt status or servicing of the bonds; Cooper told the board $30 million in bonds already had been issued and only about $3 million of additional bonds were anticipated as supplemental issuances.
Marin City residents used the TEFRA hearing to press fiscal and ethical questions. Marilyn Mackle and other commenters pointed to a court action that invalidated a prior county resolution and asked for a breakdown of expenditures, alleging the developer had used prior bond proceeds to advance work at the Drake site. Anne De Vera Rosenfeld and other speakers raised flood-zone and sunlight/blocking concerns and asked who would pay for future flood mitigation and ongoing risks for nearby senior housing.
Caleb Rupp, CEO of the Pacific Companies, said most of the bond authority had already been issued and that the board’s action was largely to provide final authority. He said approximately $3–4 million remained to be issued and that staff typically request authority in excess of expected issuance.
Supervisor Milton Peters reviewed the multi-year process, described changes made in response to community concerns—reducing height and unit counts, adding parking—and said he would support the resolution. The board then moved and adopted the resolution by voice vote.
The resolution authorizes the county to hold the federally required TEFRA hearing and recommend CMFA issue bonds; the bonds are structured and issued by CMFA and do not create county debt. Staff said permit review and building permit conditions will address elevation of living areas and other flood-vulnerability measures at the Mill Valley site.
