Public and Private Sectors Address Housing Affordability

Mountain View, Calif. - Intuit, the global financial technology company that's headquartered in Mountain View, is helping address the local housing affordability crisis through a $500,000 contribution to the Mountain View Affordable Housing Fund. The fund, managed by the Los Altos Mountain View Community Foundation (LAMVCF), supports the development and preservation of affordable housing in Mountain View.

Earlier this year, the fund was created through a unique partnership between the City of Mountain View and LAMVCF. On Jan. 27, the Mountain View City Council approved an investment of $1 million to boost the fund and encourage donations.

Intuit is the first company to contribute to this local fund, which leverages public and philanthropic dollars to solve housing affordability challenges in Mountain View.

"Thank you to Intuit for this generous contribution to Mountain View's Affordable Housing Fund," said Mayor Emily Ann Ramos. "Building a Community for All means ensuring people of all income levels have the opportunity to call Mountain View home. That vision depends on strong partnerships, and we are grateful to Intuit and the Los Altos Mountain View Community Foundation for helping expand affordable housing opportunities and demonstrating what we can accomplish when we work together."

"We believe everyone deserves the opportunity to prosper, and that includes strengthening the places where we live and work," said Michael Merola, Vice President of Places at Intuit. "Mountain View is home to our global headquarters and we're committed to making a meaningful impact that will contribute to the community's long-term health."

"Affordable housing is one of the defining challenges facing our community, and no one sector can solve it alone," said Crysta Krames, CEO of LAMVCF. "This partnership demonstrates what's possible when local government, business, philanthropy, and residents come together around a shared purpose. We're deeply grateful to Intuit for its leadership investment and hope it inspires others to join us in expanding affordable housing opportunities in Mountain View."

Key elements of the Mountain View Affordable Housing Fund include:

• Preserving and/or rehabilitating existing housing
• Supporting new housing construction as part of the City's affordable housing pipeline
• Attracting private and philanthropic contributions to expand the local impact on the housing affordability crisis in Mountain View
• Providing transparent reporting and oversight aligned with the City's housing goals

The City's partnership with LAMVCF is in line with the City's 2022-27 Affordable Housing Strategy to identify partnerships to fund the City's affordable housing pipeline and the 2023-31 Housing Element. The City will approve all expenditures to be paid out of the fund. The City has partnered with LAMVCF on several initiatives, including the creation of the TogetherMV fund to support small business loans and the tenant rent relief program, as well as serving as a fiscal sponsor for the City's funding of the Solidarity Fund during the COVID-19 pandemic. In addition, Mayor Ramos recently served on the judging panel for the Foundation's 2026 Live Where You Work Challenge.

The City's $1 million investment in the fund came from the Below Market Rate Housing Fund.

LAMVCF invites businesses, philanthropic organizations, and community members to consider donations to the fund to increase the community impact on affordable housing opportunities in Mountain View. Individual donors have contributed over $76,000 to date.

For more information, including how to donate, visit the LAMVCF's Affordable Housing Investment Fund webpage.