The Neighborhoods and Housing Division administers housing programs for very low to moderate earnings renters and homebuyers. The Town funds and supports a listing of affordable rental projects for families, seniors, low wage workers, and developmentally disabled adults. The Town’s goal would be to create, preserve and improve a variety of housing possibilities serving a financially diverse community.
There’s two primary kinds of affordable housing in Mountain View:
- Subsidized apartments affordable mainly to very-low and very-low earnings households, and
- Below Market Rate (BMR) possession and rental units reasonable for low and moderate earnings households.
The Town, as well as other investors, provides funding to subsidize the rents within the affordable apartment developments. You will find presently 1,197 subsidized apartments in Mountain View. A lot of these affordable apartments are available around the Subsidized Rental Units webpages.
BMR rental and possession units are integrated into newer and more effective market rate developments, where as much as 10% from the units might be affordable. For BMR possession units, most developers could be permitted to pay for an in-lieu fee which is used to subsidize affordable projects and programs. A lot of BMR rental and possession units are available around the Below Market Rate Housing and Projects Not Far Off webpages.