CA- $1.5 Billion in Housing Funding Scheduled for Release
$1.5 Billion in Housing Funding Scheduled for Release
Critical Fund-Balance-and-Demand Data on
State Programs Out Now
Pause on Multifamily Housing Program,
Infill Infrastructure Grant Ends
Great news! We’re happy to announce that all funding we temporarily paused last November to better align with two top affordable housing funders in the state — the California Tax Credit Allocation Committee (TCAC) and California Debt Limit Allocation Committee (CDLAC) — is now moving again. What we accomplished during the pause We laid the groundwork to change the way we do business. We are aligning policies across partner agencies and departments, and holding more frequent, focused conversations with you, to both speed up delivery of affordable homes and affirmatively further fair housing. This will be an ongoing effort over the next year as we look to simplify some of our own state-funded multifamily programs into one application consistent with the requirements of AB 434 signed by Governor Newsom last fall. Watch for opportunities to engage coming soon! We’ve updated our Notice of Funding Availability (NOFA) calendar
· Infill Infrastructure Grant (IIG) — NOFA release April 2021
· Multifamily Housing Program (MHP) — NOFA release July 2021
New! Current program fund balances and outstanding TCAC/CDLAC demand for HCD-funded projects
You asked and we delivered. Seeing the big picture of available funding from HCD and from TCAC/CDLAC allows you to better plan for opportunities and challenges ahead. Having this important data at our fingertips allows HCD to become a better partner on program innovation and alignment to achieve the goal of expedited housing production.
In addition to the timing of NOFA releases as provided in the NOFA Calendar, knowing how much funding remains in our various programs is critical in putting together financing plans for projects. You can now view the Status of Bond-Funded Multifamily Program balances.
Going forward, we will partner with our project sponsors to track the status of HCD-funded projects through quarterly surveys. This information will help us understand our Estimated Outstanding Bond and Tax Credit Demand for HCD-funded Projects.
We will update this information quarterly and you can always find the most recent charts on our main Grants and Funding webpage.
More improvements coming — AB 434 and beyond
More improvements are coming your way as we implement AB 434 (2020), which will simplify the application process, making it even easier for you to apply for funding from our multifamily housing programs.
We are excited about our continued collaboration with you as we simplify our programs and processes to remove barriers to the critical work you do building and preserving affordable homes for those most in need.