News Release —
Hearing Set for Golden Gate Village Financing

Marin County, CA – The Marin County Board of Supervisors will hold a public hearing at 3 PM on Tuesday, October 14 to consider tax-exempt bond financing that will support critical rehabilitation of Golden Gate Village, Marin City’s historic affordable housing community. 

The County of Marin is not issuing the bonds and will not assume any financial liability. The Marin Housing Authority, in partnership with Burbank Housing, is leading the effort and the financing will allow for the initial phase of much-needed repairs, modernization, and upgrades to ensure long-term livability. 

The hearing is required under the federal Tax Equity and Fiscal Responsibility Act (TEFRA) before up to $50 million in bonds can be issued by the California Municipal Finance Authority (CMFA). The financing will fund Phase 1 of the comprehensive revitalization of Golden Gate Village, located at 105 Drake Avenue in Marin City, a 100% project-based vouchered, affordable housing community for over 700 residents. The site is comprised of eight high-rise buildings (168 units) and 20 low-rise buildings (128 units) on approximately 30 acres.

“This is about preserving affordability and reinvesting in Golden Gate Village without displacing residents,” said Kimberly Carroll, Executive Director of the Marin Housing Authority. “The project ensures families can remain in their homes while benefiting from safer, healthier, and modernized housing.”

The TEFRA hearing is one of several steps paving the way for Golden Gate Village’s long-awaited rehabilitation, with Phase 1 construction scheduled to begin in early 2026 and wrap up by mid-2027. 

“I am excited about this project,” said Supervisor Stephanie Moulton-Peters, in whose district the project is located. “This effort protects 100% affordable housing in Marin City,  preserves this historically significant campus  – listed in 2017 on the National Register of Historic Places – and invests in  the Marin City community.” 

The project framework has already been approved by the Marin Housing Authority Board of Commissioners. “These aging, historically significant buildings, combined with high housing costs, limited affordability, and inadequate federal funding for public housing needs, means living conditions and housing stability would be at risk without rehabilitation,” Carroll said. 

The bonds would be issued by the California Municipal Finance Authority (CMFA), and the developer (Burbank Housing) and Marin Housing Authority is responsible for repayment. The County bears no financial responsibility; it only hosts the public hearing to receive input since the project is located in the county. 

Key points for the community:

• No resident displacement: No residents in good standing will lose their home. All residents in good standing will sign a new lease before temporarily relocating and will return to their homes after revitalization.
• Rents will remain affordable: Residents will continue to pay 30% of their income toward rent and utilities.
• No buildings will be demolished or rebuilt: Rehabilitation will be done in three phases.
• Temporary relocation with right to return: Residents will temporarily relocate for three to four months during construction, and all residents in good standing will return to their revitalized homes.
• Commitment to equity: The project directly addresses housing inequities by preserving affordability for households earning 30% to 80% of the area median income.
• Comprehensive resident support: Job training, rental and utility assistance, and access to resident services will continue throughout the rehabilitation process.
• No County debt obligation: The bonds will be the sole responsibility of the borrower. The County of Marin will not assume any financial liability.

The public hearing will take place in the Board of Supervisors chamber (Suite 330), Marin County Civic Center, 3501 Civic Center Drive, San Rafael. The hearing will also be broadcast live on Comcast Channel 27, AT&T U-verse Channel 99, streamed online at marincounty.gov and the Community Media Center of Marin.

Community members are encouraged to participate by:

• Submitting written comments in advance through the Board’s online portal.
• Attending the hearing in person.
• Joining remotely via Zoom or by phone (details available at marincounty.gov/board).

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For language translation, disability accommodations, or other assistance, please phone (415) 473-7331 (voice), CA Relay 711, or e-mail the Board of Supervisors at least five business days in advance of the event. The County will do its best to fulfill requests received with less than five business days’ notice. Copies of documents are available in alternative formats, upon request.