The Mortgage Revenue Bond Program
The Mortgage Revenue Bond Program is a County-wide program that provides mortgage financing for affordable housing through the sale of tax-exempt bonds.
In some cases, taxable bonds may also be sold in conjunction with tax-exempt bonds in order to enhance total funding availability. All unincorporated areas of the County and all cities within the County are eligible to participate in the Mortgage Revenue Bond funded program.
The Multifamily Residential Rental Housing Revenue Bond Program
The Multifamily Residential Rental Housing Revenue Bond Program assists developers of multifamily rental units in increasing the supply of affordable rental units available to qualified households.
This Program can be used for new construction, acquisition, and/or rehabilitation of multifamily housing developments. A specified number of units are required to remain affordable to eligible, low-income households for a specified number of years after the initial financing is provided. The proceeds from bond sales provide financing for affordable rental units/complexes across the County.