2025 Juneau Affordable Housing Fund

The Juneau Affordable Housing Fund (JAHF), established by the City and Borough of Juneau (CBJ), aims to increase affordable (0% to 80% area median income (AMI)) and middle-income (80% to 120% AMI) housing in Juneau. This initiative aligns with the CBJ's broader mission to address housing needs within the Capital City. The JAHF directs financial resources towards various activities including funding capital costs for rental and ownership housing, supporting capacity-building efforts for non-profit housing developers, and leveraging CBJ investments with other funding sources to maximize the creation and preservation of quality affordable and middle-income housing units. The primary beneficiaries of the JAHF are households within the affordable (0-80% AMI) and middle-income (80-120% AMI) ranges, as well as non-profit housing developers, public housing authorities, tribal governments, and for-profit developers who contribute to the creation of such housing. The impact goals include increasing the number of available affordable and middle-income housing units, fostering long-term affordability, and encouraging downtown housing development. The JAHF prioritizes the use of capital to develop housing units, specifically funding for acquisition, construction, rehabilitation, or preservation of affordable, middle-income, and senior housing, as well as homeowner opportunities. A key focus is on long-term affordability, with a preference for units created with affordability covenants or that are permanently affordable. Additionally, the fund prioritizes housing development within the boundaries established by the Downtown Juneau Residential Tax Abatement Map. Expected outcomes include a significant increase in the supply of affordable and middle-income housing units in Juneau. Measurable results will be tracked through the number of housing units created or preserved, the proportion of units designated for long-term affordability, and the geographic distribution of new developments, particularly in the downtown area. The CBJ’s strategic priority, as reflected in the JAHF, is to implement its Housing Action Plan by directing financial resources and incentives to address the critical need for diverse housing options across different income levels, thereby enhancing the overall livability and economic stability of the community.