NEWS: Supervisors Allocate $40 Million to Spur New Affordable Housing
San Mateo County, California sent this bulletin at 06/11/2024 03:19 PM PDT
June 11, 2024
For Immediate Release
Supervisors Allocate $40 Million to Spur New Affordable Housing
Redwood City – San Mateo County supervisors today allocated more than $40 million to spur the development of new affordable housing.
More than $21 million in funding is from the voter-approved Measure K half-cent sales tax, which provides local funds for local needs. Spread across seven projects, the funds would contribute to creating 431 new units of affordable housing from Daly City to Menlo Park.
“High rents and massive mortgages price out workers – and our kids – who are forced with the choice of grueling commutes to our job centers or moving out of the region,” said Warren Slocum, president of the Board of Supervisors. “The solution to the housing crisis is simple: build more housing. And that’s exactly what we are contributing to with this investment of Measure K funds.”
The funding builds on the County’s commitment to addressing San Mateo County’s shortage of affordable housing. Over the past decade, County supervisors have committed more than $300 million to protect, preserve and build affordable housing.
