Opportunity Title:
Homekey Round 3
Description:
The California Department of Housing and Community Development (HCD) is pleased to provide an update on the timing of the next round of Homekey funding.
On August 24, 2022, Governor Newsom announced $694 million in Homekey awards that will produce over 2,500 units of housing. This announcement, combined with prior awards, means Homekey 2.0 has awarded nearly $1.9 billion in funding to 108 projects that will create over 6,600 units. HCD was able to award this level of funding by continuing to review eligible waitlisted applications submitted under the September 9, 2021 Homekey 2.0 Notice of Funding Availability and using dollars appropriated by the California Legislature in the 2022 State Budget Act to fund projects that otherwise would have had to reapply under a future NOFA. This approach funded more units in a quicker timeline and saved jurisdictions time and money.
Total Amount Available:
$750,000,000
Anticipated Release Date:
HCD will release the Homekey 3.0 NOFA in early Spring 2023
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