Public Finance

Housing Finance

The Contra Costa County administers various programs to help finance affordable housing. The following are affordable housing financing programs administered by the County and other agencies.

Multi-Family Mortgage Revenue Bonds

The Program is designed to increase the supply of rental housing in Contra Costa County. This is particularly important given the demand for rental housing in the County, the limited number of new affordable apartment construction in the last decade, and prices of single family homes. By providing tax?exempt multifamily housing financing, the County can provide housing opportunities to match the County's economic growth and provide affordable rental units for very low income families and elderly tenants. This is especially important at a time when federal housing subsidies have been drastically reduced. Under the Program, at least 20% of all units will be reserved for eligible very low income persons. Learn more...

 

Mortgage Credit Certificates

The Mortgage Credit Certificate Program, authorized by Congress in the Tax Reform Act of 1984, provides financial assistance to "First time homebuyers" for the purchase of new or existing single-family home. In 1985, the State adopted legislation authorizing local agencies, such as Contra Costa County, to make Mortgage Credit Certificates (MCCs) available in California. Contra Costa County MCC authority can be used in all cities as well as the unincorporated areas of the County. The Contra Costa County Community Development Department will administer the program. Learn more...

 

Reissued Mortgage Credit Certificates

The RMCC is a program to reissue Mortgage Credit Certificates to current MCC holders who refinance their original mortgage for the first time. Learn more...

 

California Housing Finance Agency

The California Housing Finance Agency's mission is to finance below-market rate loans to create safe, decent, and affordable rental housing and to assist first-time homebuyers in achieving the dream of homeownership. Learn more...

 

Contra Costa Redevelopment Projects

The Redevelopment Agency uses 20% of its tax increment funds for affordable housing projects. Learn more...

 

Contra Costa Redevelopment Housing Projects

20% of Redevelopment funds must be used towards the development of affordable housing. The Redevelopment Agency has used these funds in various ways to secure affordable housing in Redevelopment Project Areas. Learn more...