Redwood City – San Mateo County supervisors today directed $18 million in federal funds to local affordable housing needs.
Surveys consistently show housing affordability a central concern for San Mateo County residents.
In all, nearly $18.5 million will go toward developing affordable housing, strengthening programs that relieve homelessness and protecting and improving lower-cost housing.
“This funding builds on our commitment to expanding housing options for everyone,” said Board of Supervisors Vice President David Canepa. “When a community has housing that is more affordable, the quality of life improves for everyone.”
Funding comes from the American Rescue Plan Act (ARPA), signed into law in March 2021 to provide funding for state and local governments to build an equitable economic recovery from the devastating economic effects caused by the COVID-19 pandemic.
“Housing continues to be a pressing need across San Mateo County, especially as inflation continues to eat into paychecks,” Canepa said. “I can think of no higher priority than directing additional funding to affordable housing.”
With today’s action, the Board directed the County Executive’s Office to explore needs and enter into agreements for eligible housing-related needs.
Belmont Family Apartments illustrates the impact of ARPA funding in creating new affordable housing in San Mateo County.
The project received a loan of $9.5 million in ARPA funds, enabling construction to start in April 2024. When complete, Belmont Family Apartments will provide 125 new affordable apartments on El Camino Real, close to the Belmont CalTrain station and shopping and services. Twenty of the new homes will be targeted to formerly homeless vets.
Housing is affordable when a household spends no more than 30 percent of income for housing costs like rent, mortgage and utilities.
The cost of living in San Mateo County is so high the federal government considers a family of four earning $156,650 a year “low income.”
Michelle Durand
Chief Communications Officer
mdurand@smcgov.org