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Among other things, the money will help low-income residentw buy foreclosed properties and will fund developmen t of affordable housing for farm workers in west Money will also go to support affordables housing for seniorsand low-incom families. Building new affordable housing in Marin County has neveerbeen easy, and some of this $10 milliob will go toward encouraging zoning changes, developing new rental units, buildin g new housing and buying foreclosed The Marin Community Foundation is workinf closely on this effort with local communityt agencies, nonprofit housing developers, community advocates and philanthropists.
In particular, and are working with the Marihn Community Foundation to rehabilitateforeclosed homes. Habitat for Humanityg has piloted a similar effort on the where it isbuyingf foreclosed, vacant homes in East Palo Alto and East Menlko Park. “These are one-time opportunities to leverage federal andstated programs, along with savings accounts establishexd by the families themselves, to help them acquires permanently affordable homes,” said Thomas president of the Marin Community Foundation. Abouty $2 million will be spenty the first year of the This affordable housing plan is one of four initiatives in thecommunitu foundation’s new strategic plan.
The other focuas areas are fighting poverty, climate change and education. The foundatio has assets closeto $1 billion and distributes roughlty $60 million a year.
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