AFFORDABLE HOUSING FUNDING RESOURCES
Home Investment Partnerships Program (HOME)
The HOME program assists cities, counties, developers, including Native American Entities, and nonprofit Community Housing Development Organizations (CHDOs) to create and retain affordable housing.
The program provides grants to cities and counties and low-interest loans to developers, including Native American Entities and state-certified CHDOs operating in State-eligible jurisdictions.
Local Housing Trust Fund (LHTF) Program
The LHTF program provides matching funds to local and regional housing trust funds dedicated to the creation, rehabilitation, or preservation of affordable housing, transitional housing, and emergency shelters.
Multifamily Housing Program (MHP)
Low-interest, long-term deferred-payment loans for new construction, rehabilitation, and preservation of permanent and transitional rental housing for lower-income households.
Infill Infrastructure Grant (IIG) Program
The objective of the IIG program is to promote infill housing development by providing financial assistance for Capital Improvement Projects that are an integral part of, or necessary to facilitate the development of affordable and mixed-income housing.
Under the Program, grants are available as gap funding for infrastructure, Factory-Built Housing components, and Adaptive Reuse necessary for specific residential or mixed-use infill developments. Applications will be accepted and evaluated for threshold requirements and eligibility on a continuous basis via an over-the-counter process, on the merits of the individual applications.
Veterans Housing and Homelessness Prevention Program (VHHP)
Long-term loans for the acquisition, construction, rehabilitation, and preservation of affordable multifamily housing for veterans and their families to allow veterans to access and maintain housing stability.
CalVet offers a variety of services to honorably discharged veterans from residency in one of the state Veterans Homes to helping purchase a home through a Home Loan program. Loans are available for purchase, refinance, home improvement and construction.
Joe Serna, Jr. Farmworker Housing Grant Program (FWHG)
The FWHG Multifamily program helps fund new construction, rehabilitation, and acquisition of owner-occupied and rental units for agricultural workers, with a priority for lower income households.
Financial assistance is available as deferred-payment loans for multifamily housing new construction or rehabilitation and grants for single-family new construction or owner-occupied rehabilitation programs.
Low-Income Housing Tax Credit Programs
The California Tax Credit Allocation Committee (CTCAC) facilitates the investment of private capital into the development of affordable rental housing for low-income Californians. CTCAC allocates federal and state tax credits to the developers of these projects. Corporations provide equity to build the projects in return for the tax credits. TCAC verifies that the developers have met all the requirements of the program and ensures the continued affordability and habitability of the developments for the succeeding 55 years.
Multifamily Developers & Managers – California Housing Finance Agency
CalHFA offers a variety of loan programs with competitive rates and long-term financing to advance the creation and preservation of affordable housing for people who truly need it. There programs have been streamlined for maximum efficiency, and their ability to collaborate with public and private partners allows us to be creative in financing affordable housing.
Mixed-Income Program – California Housing Finance Agency
The CalHFA Mixed-Income Program (MIP) provides long-term subordinate financing for new construction affordable multifamily developments throughout California that provide housing with units restricted at all income levels between 30% and 120% of the Area Median Income of the county in which the development will be located. The program was created with an annual appropriation of funds to CalHFA under 2017's Senate Bill 2 (SB2), the Building Homes and Jobs Act. CalHFA receives 15% of the Building Homes and Jobs Act Fund for MIP.
Special Needs Housing Program – California Housing Finance Agency
CalHFA has operated the Local Government Special Needs Housing Program (SNHP) on behalf of jurisdictions throughout California. The SNHP allows local governments to use Mental Health Services Act (MHSA) and other local funds to provide financing for the development of permanent supportive rental housing that includes units dedicated for individuals with serious mental illness, and their families, who are homeless or at risk of homelessness.
INCENTIVES
SB 35 Permit Streamlined Multifamily Review
