Comment Submitted by Christopher Mohr, Housing Endowment And Regional Trust of San Mateo County

I am writing on behalf of the Housing Endowment and Regional Trust, the HEART of San Mateo County, to supports the proposed rule for the Housing Trust Fund Allocation Formula with no objection. The factors that the allocation takes into account are comprehensive and fair, and will ensure that California will be able to produce a significant amount of affordable homes for extremely low-income families. San Mateo County is part of the Silicon Valley region, which generates an enormous number of jobs in our high-tech, biotech, and related industries. Yet the housing for these employees, and the suppliers and services that support them, have not kept pace with the need. The need is especially acute for lower-income households. A housing needs study for this county projected by 2025 a shortfall of at least 11,745 homes for extremely low-income households, and at least 10,724 very low-income households. In addition, some 30,000 households are overpaying for housing and over 10,000 are severely overcrowded. As the housing trust fund for San Mateo County, HEART raises public and private funds to meet critical housing needs. HEART is a joint powers authority with 20 cities plus the County as members, and is governed by a public/private board of directors. We have long supported the national Housing Trust Fund as a much-needed federal funding source to help close the gap for the lowest-income households. Now, HEART supports the allocation formula.