Affordable Housing

Affordable housing developers can apply to the program. Investors receive a tax credit in exchange for providing the developer with an immediate investment in the affordable housing project.

New construction and rehabilitation projects that will remain affordable for a minimum of 30 years (55 years is most competitive) and that are subsidized with federal funding and/or tax-exempt bonds.

Applications are accepted on a continuous basis. The next 4% credit application deadline is May 15, for a Committee meeting award date of August 19, 2020.

$124.9 million (2017), with a similar amount available annually. Approximately 30% of costs for affordable housing development are paid out over 10 years of tax credits and up to 15 years of tax benefits.

4% tax credits are awarded on a non-competitive basis to all projects that meet eligibility criteria.

Small and rural jurisdictions.

Public infrastructure projects including but not limited to housing projects, roads, sidewalks, water and sewer.

Applications are currently being accepted for six Notice of Funding Availability (NOFA) opportunities. Applications are due June 1, 2020 for the Economic Development, Housing, and Non-Housing Competitive Programs. Applications are due September 15, 2020 for the Economic Development Over the Counter (OTC) Program and September 30, 2020 for the Housing and Non-Housing OTC Programs.

$29.6 million (FY 2018/2019).

62 projects funded in 2016.

Affordable housing developers can apply to the program. Investors receive a tax credit in exchange for providing the developer with an immediate investment in the affordable housing project.

New construction and rehabilitation projects that will remain affordable for a minimum of 55 years and that are not federally subsidized.

Applications are accepted twice annually. The next application deadline is July 1, 2020.

$106.7 million (2018), with a similar amount available annually. Approximately 70% of eligible costs for affordable housing development are paid out over 10 years of tax credits and up to 15 years of tax benefits.

9% tax credits are highly-competitive with more eligible applicants than available funding. Therefore, award recipients are determined in large part using a tie-breaker formula.

Entitlement and non-entitlement local government agencies and local and regional housing trust funds.

The predevelopment, development, acquisition, rehabilitation, and preservation of multifamily, residential live-work, rental housing that is affordable to extremely low-, very low-, low-, or moderate-income households, homeownership opportunities, accessory dwelling units, assisting persons who are experiencing or at risk of homelessness, accessibility modifications, and efforts to acquire and rehabilitate foreclosed or vacant homes and apartments.

Applications are currently being accepted and are due July 27, 2020.

$195 million for the current FY 2019/2020.

This program provides formula funding. See Appendix A of the guidelines for formula amounts by jurisdiction.

Local and regional housing trust funds.

Predevelopment, acquisition, and other costs associated with development or rehabilitation of Affordable rental housing projects, Emergency Shelters, Permanent Supportive Housing, Transitional Housing, and Affordable Homeownership Projects or Units within a Homeownership Project, and the construction, repair, and reconstruction or rehabilitation of Accessory Dwelling Units or Junior Accessory Dwelling Units.

Applications are due August 3, 2020 by 11:59 pm PST.

$300 million (proposition 1) total for $1 to $1 matching grants for local housing trust funds.

Local governments, transportation and transit agencies, nonprofit and for-profit housing developers, JPAs, K-12 schools, college and university districts, and federally-recognized Native American tribes.

Affordable housing and transportation infrastructure, including active transportation and transit projects and programs that reduce greenhouse gas emissions.

It is anticipated that the next funding round (cycle 6) will open in November 2020, with an application deadline of February 20, 2021.

$550 million is available for Round 5 (FY 2019/2020). The maximum award amount is $30 million (no more than $60 million to a single developer per funding round), with a minimum of $1 million for TOD, ICP and RIPA Project Areas.

25 out of 47 proposals funded (FY 2018/2019).

Projects that have received the 4% Federal Low-Income Housing Tax Credit within 180 days of applying for this non-competitive California Low-Income Housing Tax Credit.

New construction of multifamily housing projects.

To be announced.

Between $300 – $500 million (2020). Beginning in 2021, up to $300 – $500 million annually.

Nonprofits or public entities serving rural areas with a population under 20,000. Funding is prioritized for high poverty or persistent poverty areas.

Transitional housing (including substance abuse recovery housing), educational and child care facilities, health care facilities, community centers, museums, libraries or public buildings, or other essential community facilities.

Applications are accepted on a continuous basis.

$100,000 – $8 million in loans.

Most state and local governmental entities, nonprofits, and Federally-recognized Native American tribes serving rural areas with a population under 20,000.

Rehabilitation and preservation of affordable housing for rural, low-income homeowners and renters. Priority will be given to projects that reduce the morbidity and mortality associated with substance abuse disorders in high-risk rural communities.

The most recent application period closed in July 2019. The next funding round has not yet been announced.

A total of approximately $16 million in grants and loans.

Cities and/or counties that have jurisdiction over a Qualifying Infill Area. Nonprofit or a for-profit developer of a Qualifying Infill Project applying jointly with a city and/or county that has jurisdiction over a Qualifying Infill Project.

Construction of new infill development and rehabilitation of infrastructure that supports higher-density affordable and mixed-income housing including but not limited to active transportation, parks and open space, stormwater, street repair, transit, and water-related improvements.

The most recent application cycle closed in March 2020.

Round 6 (FY 2019/2020): Approximately $50 million per funding round. For Qualifying Infill Projects, the minimum grant award is $1 million ($500,000 for rural areas) with a maximum of $7.5 million. Qualifying Infill Areas with over 200 units, the minimum grant award is $2 million ($1 million for rural areas). Only one application for each Capital Improvement Project will be funded per funding round.

For-profit organizations, nonprofits, and public agencies.

Loans for mixed-income rental housing with unit restrictions between 30% and 120% of the area median income.

The most recent application period closed in April 2019. The next funding round has not yet been announced.

$40 million (2019). 15%, or approximately $30-$45 million in proceeds from the Building Jobs and Homes Act (SB 2) is allocated on an annual basis. The program may receive additional funding from the California Low-Income Housing Tax Credit, up to $200 million on an annual basis beginning in 2020.

Individuals, public agencies, nonprofits, for-profit entities, and Native American reservations and rancherias.

Affordable multifamily rental and transitional new construction, acquisition, rehabilitation, and conversion housing developments.

The most recent application cycle closed March 2, 2020.

Approximately $250 million in loans (2019/2020), with a maximum of $20 million per loan.

Applications for the current funding round 2 are due March 2, 2020.

Community Development Entities (CDEs). Investors receive a tax credit against their federal income-tax return in exchange for making an immediate equity investment in a CDE.

Mixed-use projects that include rental housing, commercial real estate, community facilities, industrial/distribution facilities, business financing, new construction or substantial rehabilitation, and funding in place of refinancing.

The most recent application period closed in October 2019. Awards will be announced in Summer 2020.

Investors may claim a Federal tax credit for a total of 39% of the original investment amount over a period of seven years.

Since 1996, 122 awards, ranging from $5 – $150 million have been awarded within the State of California.

Counties.

Acquire, design, construct, rehabilitate, or preserve permanent supportive housing for persons who are experiencing homelessness, chronic homelessness or who are at risk of chronic homelessness, and who are in need of mental health services.

Project applications for the noncompetitive funding allocation will be accepted on a continuous basis until February 15, 2021. The most recent competitive application period closed January 8, 2020.

Approximately $200 million in competitive loans were available for Round 1 (closed in January 2019), with a total of $1.8 billion through multiple funding rounds. Approximately $190 million in noncompetitive formula funds are available through February 2021.

45 of 45 applicants received funding through the competitive loan program. However, the total funds requested was greater than funds available, or roughly $194 million funds requested versus $178 million available.

Cities and counties.

Update planning documents and processes that streamline housing approvals and accelerate housing production including but not limited to updates to general plans, community plans, specific plans, zoning ordinances, local planning related to implementation of sustainable communities strategies, or local coastal plans, certain environmental analyses, workforce housing opportunity zones (SB 540), zoning and rezoning projects, and infrastructure financing plans.

The most recent application deadline closed in December 2019.

Funding will be available for one round for approximately $123 million, with a maximum award amount between $160,000 and $625,000 (depending on population of jurisdiction) and a minimum award amount of $25,000.

Individuals, nonprofits, for-profit entities, and governing bodies of Native American reservations or rancherias.

New construction or rehabilitation of a multifamily rental housing development, conversion of a nonresidential structure to a multifamily rental housing development, refinancing to retain affordable rents, child care and other social services. Rental units but be permanently affordable.

The most recent application period closed in February 2019. The next funding round has not yet been announced.

$77 million (FY 2018/2019), with a maximum of $20 million per award.

17 out of 20 proposals funded (FY 2018/2019).

CBOs, local governments, nonprofits (including coalitions of associations), philanthropic organizations and foundations, faith-based organizations, community development finance institutions, community development corporations, JPAs, and Native American tribal governments. There must be a minimum of one lead applicant, in addition to co-applicants.

Applicants must implement at least three projects associated with the following strategies: equitable housing and neighborhood development, affordable housing land acquisition, transit access and mobility, solar installation and energy efficiency, water efficiency, recycling and waste management, urban greening and green infrastructure, land conservation, health and well-being. The list of eligible activities and fundable elements are defined in Appendix B of the Round 3 Program Guidelines.

The most recent application cycle closed in March 2020.

$56.4 million total for two grant awards of $28.2 million for Round 3 (FY 2019/2020).

2 out of 4 proposals funded in Round 2 (FY 2018/2019).

CBOs, local governments, nonprofits (including coalitions of associations), philanthropic organizations and foundations, faith-based organizations, community development finance institutions, community development corporations, JPAs, and Native American tribal governments. There must be a minimum of one lead and two co-applicants.

Planning activities for capacity-building, policies and codes, fiscal analyses and studies and community engagement that directly benefit low-income or disadvantaged communities.

The most recent application cycle closed in February 2020.

$600,000 for three grant awards for Round 3 (FY 2019/2020), with a maximum of $200,000 per award.

4 out of 7 proposals funded in Round 2 (FY 2018/2019).