Project Description

The social impact bonds program would be funded through municipal bonds issued by the City of Hayward and uses bond proceeds to acquire and rehabilitate foreclosed, vacant, and/or derelict properties providing relief to neighborhoods affected by these properties by transforming them into clean, affordable, for-sale units. The bond would be paid back through the sale proceeds of the rehabilitated homes. Staff are working with consultants and non-profit partners to determine the feasibility of this program.