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Martinez council debates how to spend ~$460,000 affordable housing fund; staff recommends ADU incentives
Summary
Staff outlined five uses for about $460,000 in the city's affordable housing fund — gap financing, a NOFA, first-time buyer aid, home-rehab, and an ADU incentive program (staff's recommendation). Council asked staff to explore county/nonprofit partnerships and return with clearer options and funding sources.
City staff presented options on April 15 for using approximately $460,000 in Martinez's affordable housing fund and sought council direction on a preferred program to develop.
Michael Cass, assistant community and economic development director, said the fund cannot build units outright but can seed programs that leverage outside funding. He outlined five options: 1) gap financing for affordable multifamily projects, 2) issuing a notice of funding availability (NOFA)…
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