CC 06-15-2021 Item No. 01 Destination Home Supportive Housing and Innovation Fund_PresentationSupportive Housing and Innovation Fund
June 15, 2021
destinationhomesv.org
CC 06-15-2021 Item No. 1
●Housed 14,000 people in the past five years
●Prevented homelessness for over 1,300 families since 2017
●Leveraged $1B from government, corporate, and foundation partners to
develop thousands of units of deeply affordable housing
●Spearheaded a Community Plan to End Homelessness
A Public -Private Partnership Ending Homelessness in Santa Clara County
Destination: Home
Deeply Affordable Housing in Santa Clara County
In 2016, Santa Clara County voters approved a
$950M affordable housing bond with the goal of
creating 4,800 new homes by 2026, including:
●1,800 units to assist homeless person with
disabilities and their families;
●1,600 units for working families and adults to
regain permanent homes; and
●1,400 units affordable for extremely low
income households to increase stability
To date, the effort has funded over 3,500 new
and rehabilitated units at 34 sites across the
county.
Supportive Housing and Innovation Fund
To advance the goals of the Affordable Housing Bond, Destination: Home
launched its Supportive Housing and Innovation Fund in 2018 to:
●Leverage permanent public funds with early, flexible philanthropic capital to
buy parcels, pursue new opportunities, and get projects started quickly
●Build the capacity of local non-profit developers to increase the number of
new units in the housing pipeline
●Explore innovative strategies to decrease the costs/time to build housing
Progress (2018-2021)
●Directed Project-Related Investments
○Awarded over $40M of loans and grants for 1,964 new units of supportive and
ELI housing at 20 sites
○Created access to $150M of new funding through the creation of a new
Community Housing Fund dedicated specifically for the development of
extremely low income and supportive housing.
●Advanced the Streamlining of New Development
○Funded a dedicated planning position at City of San Jose
■7 projects fully entitled through expedited process
■20% decrease in average permit processing time
●Increased Partner Capacity
○Awarded $2.2M in grants to six non-profit developers, with 1,600 pipeline
units identified in next five years
○Provided $900,000 in grants to two new partner cities –Morgan Hill and
Mountain View –to assist with the development of local supportive and
extremely low income housing plans
Since the launch of the Fund, Destination: Home has:
Questions?
destinationhomesv.org