Housing
El Rancho San Benito will combine a full range of market-rate home options with the largest affordable housing development in county history. Our plans include the following:
Market-Rate Housing
The 5,440 market-rate homes proposed for the project will include a full range of housing opportunities, many of which are not currently available in San Benito County. Condominiums, townhomes, cluster and alley style single-family homes, as well as small and mid-size lot conventional homes will be offered for first-time homebuyers. Larger homes for move-up buyers, as well as special designs for "empty nesters" and seniors will also be provided. A limited number of larger lots and customs homes will be available.
All homes will be designed in small neighborhoods with multiple architectural styles representing true San Benito County architectural heritage.
Onsite Below Market-Rate Housing
The project will build and provide 1,360 below market-rate homes affordable to buyers with a wide range of incomes. Approximately 200 of these units will be rental homes reserved for buyers identified by the county as having "very low" incomes. Three hundred homes will be reserved for families with "low" incomes; the percentage of rental versus for-sale homes will be determined in consultation with the county. Four hundred homes will be offered for-sale to families with "moderate" incomes, and 460 units will be for sale to "workforce" buyers, such as public safety workers, teachers and health care workers. Purchase assistance will be provided by our project through support for county and other community down payment and second trust deed programs.
Our research has shown us that we can legally create a priority system for our Below Market-Rate Housing program for existing San Benito County residents, or those working here in the county who would prefer to live here. We will implement such a program. Fair Housing laws prohibit us from creating the same priorities for the Market-Rate housing.
We anticipate that local affordable housing advocates, including South County Housing and CHISPA, as well as nationally acclaimed organizations such as Bridge Housing will participate with us to give county residents and families the highest possible priority in accessing these new affordable housing opportunities.
Additional County Housing Support
El Rancho San Benito will generate significant support for additional county housing needs during the construction and sale period of the project, including:
The Legacy Fund - Part 1
El Rancho San Benito wants to make a lasting contribution to future generations needing affordable housing and to support family farming and ranching. Toward that end, El Rancho San Benito is establishing *The Legacy Fund.* For a period of 50 years, upon the resale of each home in El Rancho San Benito, a transfer fee of 1/2 of 1 percent will be deposited into the Legacy Fund. In the first 25 years of the Legacy Fund, it is anticipated to generate about $80 million. One half of the proceeds (approximately $40 million) will be used by a non-profit organization such as the Community Services Development Corporation of San Benito County to fund ongoing affordable housing projects throughout the county. The other half will be used to protect family agricultural and ranch lands as described in community life.
Toolkit Introduction
Land Use
Major Infrastructure
Economic Vitality
Housing
Public Services
Education
Community Life