California

The staff of the California Strategic Growth Council recommended over $402 million in awards for the Affordable Housing Sustainable Communities (AHSC) program. The recommendations will be considered at the Strategic Growth Council Meeting on June 21.

The California Department of Housing and Community Development (HCD) released the Veterans Housing and Homelessness Prevention (VHHP) program Draft Guidelines for Round 5. Comments on the draft guidelines should be sent to hcdvets@hcd.ca.gov  by 5 pm PDT on June 29, 2019. HCD will host two workshops and a webinar to review the VHHP Round 5 Draft Guidelines.

The California State Assembly approved Assembly Bill 1487,that would authorize the creation of the Housing Alliance for the Bay Area, tasked with raising public funds and providing technical assistance to create and preserve affordable homes and offer tenant protections across the region.

Approximately $2 million in Section 811 project-based rental assistance is available under Round 1 of the Section 811 Project Rental Assistance (PRA) program. Units provided this rental assistance would need to be occupied by PRA-eligible tenants no later than September 30, 2020. The California Housing Finance Agency is accepting applications now an over-the counter first-come-first-served […]

The California Housing Partnership released new reports in collaboration with local and regional housing organizations that document the deteriorating conditions facing low-income renters in five Southern California counties: Los Angeles, Orange, Riverside, San Bernardino and San Diego. The reports offers policy recommendations for state, local and regional leaders…

HUD awarded nearly $1.5 billion to support seven states in their recovery from 2018 disasters, including Hurricane Michael, Hurricane Florence and wildfires in California.

The California Tax Credit Allocation Committee (TCAC) released the agenda for its May 15 hearing.

HUD’s Office of Multifamily West Region issued a memo that nullifies the requirement to review the status of residents reporting zero or nominal (less than $100.00) income every 90 days.

Red Stone Tax-Exempt Funding (Red Stone) successfully structured and closed three tax-exempt and taxable bond transactions totaling $85.27 million via its Red Stone Direct investment platform.  These investments will provide debt financing for the new construction of affordable rental communities in California, Texas, and Utah. 

The California Department of Housing and Community Development (CalHCD) has released an amendment to the Veterans Housing and Homelessness Prevention (VHHP) program Guidelines for rounds 1 – 4. Effective immediately, the Guidelines’ treatment of Developer Fees and Asset Management Fees mirrors the Uniform Multifamily Regulations’ treatment of those fees.

With funds gathered as part of Senate Bill 2, the California Housing Finance Agency (CalHFA) has made $40 million available for its new Mixed-Income Program. CalHFA’s Mixed-Income Program provides competitive, long-term gap financing for the construction of new rental housing developments that are affordable for a mix of incomes between 30 and 120 percent of the area median income.

The California Department of Housing and Community Development (HCD) announced awards totaling $302 million from the No Place Like Home program. HCD also announced awards totaling $11 million from the federal Emergency Solutions Grants (ESG) program.