SAN DIEGO (CNS) - A plan to create a $25 million affordable housing trust fund is scheduled to go before the San Diego County Board of Supervisors Tuesday.
Supervisor Ron Roberts said that what's being called the Innovative Housing Trust Fund would allow the county government to directly invest in affordable housing. He also acknowledges the pool's funding isn't enough unless the county uses it to partner with the private sector.
The proposal is one of several made earlier this year by county and city of San Diego officials in response to a lack of affordable housing and increase in homelessness. A countywide tally of the homeless in January found an increase of 5 percent from last year to 9,116. Of those, 5,621 were unsheltered.
"We live in a time where housing needs have outgrown our ability to meet demand," Roberts said at a previous meeting. "Not just affordable housing -- the county and all 18 cities are not building anywhere near the amount of housing that is needed."
He criticized housing units being used exclusively for vacation rentals and listed "skyrocketing rents" among one of the main issues.
According to county documents, the funds would be used to support the evaluation, construction, acquisition and/or rehabilitation of affordable housing.
Priority would be given to proposals that leverage other funding resources to increase housing opportunities for low-income households and that incorporate approaches to help work-eligible households achieve self-sufficiency. Such opportunities will be targeted for developments that serve the homeless, those at risk of homelessness, veterans, people with disabilities, seniors, transition-age youth and families.
Appropriations for individual projects would be included in future county budgets.