Rental Programs made possible by Measure A1
Map of Rental Units Made Possible by Measure A1
A1 Rental Development Projects by City
The Rental Development Fund
The Rental Housing Development Fund’s purpose is to create and preserve affordable rental housing for Extremely Low and very low households and vulnerable populations throughout Alameda County. The Rental Housing Development Fund is the largest program of the Measure A1 Bond. It is divided into two allocations: the $200 million “Regional Pool” allocation based on a formula that looked at poverty and homelessness across the county, distributed to development projects through competitive RFPs in four County regions, and $225 million “Base City Allocations,” a portion of which is allocated to each city, as well as the unincorporated area of the county, based on a formula that accounts for each city’s current and future housing need.
The fund serves households with incomes at 20% or less of Area Median Income or low income households below 60% AMI and serving at least one of these target populations: seniors, people experiencing homelessness, low-income essential workers, veterans, people with disabilities, transition-aged youth or people returning from incarceration.
This county LED effort supports all of the cities to address their current affordable housing needs and anticipating where low income families will best be served in the future.
The Innovation and Opportunity Fund
The Innovation and Opportunity Fund was created to increase affordable rental units in Alameda County by supporting developers who preserve or create new affordable housing. This fund is divided between two programs: the Acquisition and Opportunity Fund and the Innovation Fund. The Homeownership Development Program will increase access to affordable home ownership for first-time homebuyers.
The Acquisition and Opportunity Fund ($25m)
The goal of the Acquisition and Opportunity Fund is to empower eligible nonprofit affordable housing developers to respond quickly to preserve and expand affordable housing and prevent displacement of low-income tenants. The program will preserve and expand affordable rental housing at the same income levels and serve the same target populations as the Rental Housing Development Fund. This fund will support affordable housing developers in responding quickly to opportunities in the housing market as they arise.
The Countywide program will provide over-the-counter, short-term predevelopment and site acquisition loans to pre-approved developers.
The Innovation Fund ($10m)
The Innovation Fund will support innovations in addressing the need for affordable rental housing for the household income levels and target populations of the Measure A1 Rental Housing Development Fund.