Affordable Housing Bond Funds, CIP Funds, and Surplus Property

Background 

Bond Funds

In November 2016, voters in Orange County approved a $5 million bond to support affordable housing projects in the county. Partial funding was awarded in 2017 and again in 2020. There are $769,680 in remaining Bond funds.

Capital Investment Plan (CIP) Funds

In June 2023, the BOCC allocated $15 million CIP funds for the development of affordable housing. These funds will be released in $5 million increments, the first of which will be distributed this year (2023). 

Surplus Land

On June 20, 2023, the BOCC declared 11 parcels of county-owned land as surplus for affordable housing. The County may:

• Sell the properties by negotiated sale to either a public or private entity for the purpose of developing affordable housing for persons of low to moderate income (the property could be offered for below market rates to serve as a subsidy for the affordable housing project);
• Lease the property to a public or private entity for the purpose of developing affordable housing for persons of low to moderate income (the lease rate could also be negotiated below market rate to serve as a subsidy for the affordable housing project); and
• In the event that there are no developers interested in option (1) or (2), sell the property on the private market with the proceeds of the sale dedicated to other affordable housing projects.

The surplus properties are:

Timeline

Orange County plans to release an RFP for the remaining $769,680 bond funds, $5 million CIP funds, and 11 surplus county-owned land parcels for the development of affordable housing. The tentative timeline for the application process is as follows: