Bay Area Housing Corporation

Bay Area Housing Corporation is a distinguished nonprofit organization located in Los Gatos, California. In partnership with the Department of Developmental Services in San Andreas and Golden Gate Regional Centers, the corporation has established a reputable housing organization with a financially stable portfolio. Currently, Bay Area Housing Corporation owns 49 single-family homes in the Bay Area, offering permanent housing opportunities for individuals with developmental disabilities and a low-income population. Over the years, the corporation's homes have provided a safe and supportive environment for approximately 400 people, and will continue to serve as a valuable community resource. In 2007, the organization formed a subsidiary, Casa Milagro, LLC, which manages 32 homes acquired between 2003 and 2011. These properties were refinanced in 2011 with a 15-year bond. In 2010, another subsidiary, Mas Milagros, LLC, was established to manage four properties acquired between 2011 and 2015. These properties have "forgivable" loans from the City and County of Santa Clara, with interest accruing annually but no payments made. Additionally, the corporation manages 13 properties under the Community Placement Plan (CPP) between 2016 and 2022, financed with a combination of grants and commercial loans. Renovations are ongoing, and the organization seeks to acquire and renovate two additional CPP homes in the future. The primary mission of Bay Area Housing Corporation is to provide and maintain housing opportunities for individuals with developmental disabilities and a low-income population. With a dedicated workforce of six employees, the organization continues to make strides in providing safe, supportive housing to those in need.

The Bay Area Housing Corporation's primary purpose is to provide and maintain housing opportunities for individuals with developmental disabilities and low-income populations. This organization has developed a well-respected housing organization with a financially sustainable portfolio, currently owning 49 scattered-site, single-family homes. Over the years, the corporation's homes have served as a safe and supportive environment for an estimated 400 people, and it continues to be a valuable community resource.

In 2007, the corporation formed a limited liability company, Casa Milagro, LLC, to hold 32 homes acquired under the Bay Area Housing Plan between 2003 and 2011. These properties were refinanced with a 15-year bond issued in 2011. In 2010, another limited liability company, Mas Milagros, LLC, was formed to hold four properties, acquired between 2011 and 2015. These properties have forgivable loans from the City and County of Santa Clara, and are encumbered by restrictive covenants.

The corporation also manages properties acquired under the Community Placement Plan (CPP) between 2016 and 2022. These properties were financed with a combination of grants from the State of California and commercial loans. The organization is actively working on contracts to acquire and renovate two additional CPP homes in the coming year.

Carol Turner is the Board Chair of Bay Area Housing Corporation.

Bay Area Housing Corporation's revenue in 2022 was $7,223,971.

The average compensation at Bay Area Housing Corporation during 2022 was $110,705. There are 6 employees and 10 volunteers at Bay Area Housing Corporation.

Here are 10 key members and their salaries:

Bay Area Housing Corporation's most recent form 990 was submitted in 2022 and can be accessed here.