The California Department of Housing and Community Development (Department) is pleased to announce the release of this Notice of Funding Availability (NOFA) for approximately $57 million in funds for the Local Housing Trust Fund (LHTF) Program.
Donor Name: California Department of Housing & Community Development
State: California
County: All Counties
Type of Grant: Grant
Deadline: 05/25/2022
Size of the Grant: $500,000 – $750,000
Details:
This funding provides Matching Grants to Local Housing Trust Funds established by cities and counties, Native American Tribes, and incorporated 501(c)(3) nonprofit organizations.
Funding Information
- The minimum application request by an Applicant that is an Existing Local Housing Trust Fund shall be $1 million.
- The minimum application request by an Applicant that is a New Local Housing Trust Fund, but which is not a Regional Housing Trust Fund, shall be $500,000.
- The minimum application request by an Applicant that is a New Local Housing Trust Fund, which is also a Regional Housing Trust Fund, and which is utilizing Permanent Local Housing Allocation Funds as Matching Funds, shall be $750,000.
Eligible Activities
- To provide construction loans and/or permanent financing loans at simple interest rates of no higher than three percent per annum, for payment of predevelopment costs, acquisition, construction, or rehabilitation associated with Affordable rental housing projects, Emergency Shelters, Transitional Housing, Permanent Supportive Housing, homebuyer/homeowner projects to purchase for-sale housing units or to rehabilitate an owner-occupied dwelling. Funds may also be used for the construction, conversion, repair, and rehabilitation of Accessory Dwelling Units or Junior Accessory Dwelling Units.
- Administrative expenses may not exceed five percent of Program Funds and Matching Funds.
- A minimum of 30 percent of Program Funds and Matching Funds, after deducting administrative expenses, shall be expended on assistance to Extremely LowIncome Households. To comply with this requirement, dwelling units or shelter beds must be Affordable and restricted for Extremely Low-Income Households with a household income of no more than 30 percent of the Area Median Income (AMI).
- No more than 20 percent of the Program Funds and Matching Funds, after deducting administrative expenses, shall be expended on assistance to moderate-income Households. To comply with this requirement, dwelling units must be Affordable too and restricted for Moderate-Income Households with a household income of no more than 120 percent of AMI.
- The remaining Program Funds and Matching Funds shall be expended on assistance to Lower-Income Households. To comply with this requirement, dwelling units must be Affordable too and restricted for Lower-Income Households with a household income of no more than 80 percent AMI.
For more information, visit Local Housing Trust Fund (LHTF) Program.
