The Community Development Department implements and monitors the City’s Affordable Housing activities. The City has a number of different affordable housing programs with varying restrictions. The program also seeks to expand housing opportunities through various funding sources, and partnership with affordable housing developers. In addition, to ensure continuing affordability, the City monitors resale and rent activity of the City’s existing income-restricted units.
The City of Thousand Oaks monitors the initial sales and resale restrictions units developed or financially assisted through the City or former Redevelopment Agency. Ownership Programs helps individuals in lower and moderate income households purchase their first home or townhouse within the City.
Rental Assistance Programs
The City of Thousand Oaks monitors the senior and family affordable rental units developed or financially assisted through the City or former Redevelopment Agency. Questions regarding rental opportunities can be obtained from the apartment management.
The following links provide useful information to individuals who are having difficulty in making their monthly mortgage payments or who have received a Notice of Default, which is the first step in the California non-judicial foreclosure process. The City urges borrowers to be wary of foreclosure prevention entities that charge fees for service.
Housing Rehabilitation Programs
The City allocates a portion of its annual Community Development Block Grant funding from the U.S. Department of Housing and Urban Development to support the rehabilitation needs of low-income, owner-occupied single-family dwellings and mobile homes, as well as multi-family rental apartments owned by the Area Housing Authority of the County of Ventura and/or Many Mansions, a Thousand Oaks-based affordable housing provider.
Ventura County Income Limits
The first step in determining eligibility for an affordable housing program is determining whether the family which will be purchasing or rending the housing unit meets income standards applicable to Ventura County, based upon the size of family. These median income numbers are revised annually by the State of California.
On February 1, 2012, by legislative act (AB 1x 26) all redevelopment agencies in the State of California were dissolved. This included the Thousand Oaks Redevelopment Agency. As allowed by law, the City of Thousand Oaks has elected to retain all housing assets and functions of the former redevelopment agency under Resolution 2012-008. Senate Bill 341 requires website posting of the following reports:
- Implementation Plan of the Former Redevelopment Agency
- Comprehensive Annual Financial Report (Independent Financial Audit)
- Housing Successor Annual Report FY 2013-14
- Housing Successor Annual Report FY 2014-15
- Housing Successor Annual Report FY 2015-16
Assembly Bill 987 (AB 987)
Beginning January 1, 2008 State of California Law, Assembly Bill 987 required former Redevelopment Agencies to post on its website all properties that have affordable restrictions. This is now an obligation of the City as successor agency to the former Redevelopment Agency. State requires agencies to compile and maintain a database of affordable housing units developed or assisted with the agency’s Low- and Moderate-Income Housing Fund. In accordance with the provisions of AB 987, the database must provide specific information on existing, new and substantially rehabilitated, housing units developed or assisted with moneys from the agency’s Low- and Moderate-Income Housing Fund. Click one of these links for a complied list. Ownership Programs Rental Assistance Programs.
Other Housing Links
For more housing information call (805) 449-2393 or email CommunityDevelopment@toaks.org.