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  • State Funding For Local RE Projects

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    Christopher Theodore
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    The Local Housing Trust Fund Program provides matching grants to local housing trust funds to help finance affordable housing. Grants between $1-2 million will be awarded on a dollar-for-dollar matching basis to new local housing trusts established after September 2006, with priority given to applicants that provide matching funds from non-residential development impact fees. Eligible activities include loans for affordable rental housing and downpayment assistance for first-time homebuyers earning below 60% of the area median income.

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    State Funding for Local RE Projects

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    The Local Housing Trust Fund Program provides matching grants to local housing trust funds to help finance affordable housing. Grants between $1-2 million will be awarded on a dollar-for-dollar matching basis to new local housing trusts established after September 2006, with priority given to applicants that provide matching funds from non-residential development impact fees. Eligible activities include loans for affordable rental housing and downpayment assistance for first-time homebuyers earning below 60% of the area median income.

    Copyright:

    Attribution Non-Commercial (BY-NC)
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    4 views1 page

    State Funding For Local RE Projects

    Uploaded by

    Christopher Theodore
    The Local Housing Trust Fund Program provides matching grants to local housing trust funds to help finance affordable housing. Grants between $1-2 million will be awarded on a dollar-for-dollar matching basis to new local housing trusts established after September 2006, with priority given to applicants that provide matching funds from non-residential development impact fees. Eligible activities include loans for affordable rental housing and downpayment assistance for first-time homebuyers earning below 60% of the area median income.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as RTF, PDF, TXT or read online from Scribd
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    Download as rtf, pdf, or txt
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    Local Housing Trust Fund Program

    Purpose
    Help finance local housing trust funds dedicated to the creation or preservation of affordable housing.

    Assistance Type
    Matching grants (dollar-for-dollar) to local housing trust funds that are funded on an ongoing basis from private contributions or public sources that are not otherwise restricted in use for housing programs.

    Terms
    $5.4 million will go for matching grants to new local housing trusts created on or after September 30, 2006. Maximum allocation, $2 million. Minimum allocation, $1 million. Applicants providing matching funds from sources other than impact fees on residential development will receive priority.

    Eligible Activities
    Loans for construction of rental housing projects with units restricted for at least 55 years to households earning less than 60 percent of area median income, and for downpayment assistance to qualified first-time homebuyers.

    Eligible Applicants
    Cities, counties, and cities and counties with adopted housing elements that HCD has determined comply with housing element law, and charitable nonprofit organizations.

    Contact
    Ben Dudek at (916) 445-6508 or bdudek@hcd.ca.gov

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