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September
2008 | By Bud Emerson
Is
there a bigger challenge than
finding affordable
housing opportunities
in Del Mar for low-income
families? Yet, on
a modest scale we
have been doing just
that for over twenty
years.
Eight
families have been participating
in Del Mar's rental
assistance program.
These eight families
are living in rental
units, paying about
60% of their rent out
of their own meager
funds. The balance of
the rent is paid out
of Del Mar's housing
fund.
The
housing fund was created
from annual federal
block grants, fees from
condo conversions, and
occasional City Council
contributions from the
general fund. Over the
years, the fund has
been managed by the
Del Mar Housing Corporation,
a non-profit agency
required by federal
regulations in order
to be eligible for block
grants. The fund is
folded into Del Mar's
city general fund where
it earns a modest interest
return. The successful
strategy has been to
preserve the principal
and use the return to
cover annual operating
costs. The current fund
balance is approximately
$700,000. The annual
cost of the rental subsidies
is about $65,000. The
Housing Corporation
sets priorities for
inclusion in the program:
Del Mar residents, seniors,
ethnic minorities, and
single parents.
The
subsidy program is managed
by Del Mar Community
Connections (DMCC).
Their function is to
certify participant
qualifications on an
annual basis, communicate
with participants, solve
problems, and give reports
to the Housing Corporation.
Current
participants have incomes
that range from about
$10,000 to $32,000.
Much credit goes to
a few landlords who
have voluntarily limited
rental rates to accommodate
the program.
The
city's draft housing
element update calls
for an increase of eight
additional families
in the next five years.
Funds for such an increase
have not yet been identified.
One of the "exceptional
public benefits" of
the new "Garden" project
which will be on this
year's ballot is an
annual housing fee for
new project condo owners which
will be added to the
housing fund. Tax-deductible
contributions to the
housing fund are welcome.
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