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Affordable Housing Fund The San Diego Affordable Housing Fund has two primary sources: the Housing Trust Fund and Inclusionary Housing in-lieu fees. (Click here to view Affordable Housing Fund reports.) The San Diego Housing Trust Fund created by the San Diego City Council in 1990, was one of the first programs of its kind and has become a model for other cities. Historically, the Housing Trust Fund benefited from four primary revenue sources. Currently, its only source is a City Commercial Linkage Fee – a fee that is levied on a square foot basis on commercial and industrial buildings. The nexus is that such new buildings or expansions typically generate new jobs, and therefore, the need for housing for individuals who fill those positions. Inclusionary housing in-lieu fees are a source of revenues for the Affordable Housing Fund. In 2003, the City of San Diego enacted a city-wide Inclusionary Housing Ordinance, one which allows developers the option of paying fees in lieu of providing ten percent of the homes in any development at affordable rates for modest income families. These fees are collected by the City and released, on a quarterly basis, to the San Diego Housing Commission to leverage against other funds to help build affordable housing, preferably in the community plan area from which the funds came. In 2006 the City of San Diego adopted a new in-lieu fee assessment procedure. This new assessment procedure provides developers more certainty as to what the level of their in-lieu fee shall be upon their project's approval. To see how this assessment procedure works, please click here. Affordable Housing Fund key to creating more affordable housing San Diego’s Affordable Housing Fund helps expand affordable housing by assisting developer partners. As developers respond with proposals to the Housing Commission’s Notices of Funding Availability (NOFAs), a variety of funding sources, including the Affordable Housing Fund, are explored as options to help subsidize the construction of below-market-rate homes. Another key attribute of the Affordable Housing Fund is in its flexibility. Because it is designed without state or federal intervention, the fund can be shaped to address local needs, conditions, and priorities. This flexibility allows the Affordable Housing Fund to provide a variety of housing opportunities in addition to rental housing development. Transitional Housing programs serve the area’s most needy – persons in need of shelter and food. Neighborhoods are revitalized and public safety is enhanced through housing rehabilitation loans and grants. The fund also assists first-time homebuyers achieve the American dream of homeownership. |
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