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The city of Menlo Park has released a “notice of funding availability” – a call for agencies to apply for funding – for affordable housing projects. The city currently has about $11.5 million in funds available.
Funding comes from the city’s “Below Market Rate” housing fund, which includes fees collected from housing developments of 10 or more units and per-square-foot fees collected from commercial and industrial developments.
The deadline for proposals is 5 p.m. Thursday, Jan. 31.
Access more information here.
The local need for affordable housing is severe and will deepen inn2019. It’s encouraging to see this call put out — I hope that we move quickly to get affordable housing projects going throughout Menlo Park.
11 million will barely get you a foundation, let’s hope it can be significantly leveraged. Oh and let’s hope the city council can have the courage to actually approve a much needed dense, infill housing project.
I would like to see Menlo Park give grants or some form of financial assistance to senior citizens and others wanting to build second units. I much prefer small units integrated into neighborhoods over huge high rise developments.
Get rid of the exhorbitent City fees and people would actually start building 2nd ary units, not sure what it is now, was $25k, it doesn’t cost anything extra for the city to charge a fee.