Habitat for Humanity's Novato project aimed at helping low- and moderate-income households purchase homes has secured a $5.2 million allocation from Marin County supervisors. This raises the county's contribution to approximately $6 million, although a significant funding gap remains against the project's $84 million estimated cost. Building costs have risen by 40% since 2019, leading to challenges in financing. The project envisions 23 buildings with up to 80 affordable homes for households earning up to 120% of the area median income.
"We have to put in all of the infrastructure, the roads, the sidewalks, everything. It's breaking my heart... the increase is due to a rise in building costs."
"This is really a unique opportunity to invest in low-income families through a homeownership model, which is unusual in affordable housing..."
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