2024 LHTF NOFA Round 5

Who can apply

NonprofitPublic AgencyTribal Government

Local Housing Trust Funds established by cities and counties, Native American Tribes, and incorporated 501(c)(3) nonprofit organizations

Where: N/A

Purpose

The principal goal of this program is to provide grants to Local Housing Trust Funds established by cities and counties, Native American Tribes, and incorporated 501(c)(3) nonprofit organizations to increase the supply of housing to households with incomes of 80 percent or less of area median income.

Description

Program Funds awarded under this NOFA shall be used 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 as well as to construct, convert, reconstruct, rehabilitate, and/or repair Accessory Dwelling Units (ADUs) or Junior Accessory Dwelling Units (JADUs). Eligible activitiesPursuant to Guidelines, Section 105, the LHTF funds shall be allocated in compliance with all of the following: 1. 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. 2. Administrative expenses may not exceed five percent of program Program Funds and Matching Funds.3. A minimum of 30 percent of program Program Funds and Matching Funds, after deducting administrative expense, shall be expended on assistance to Extremely Low-Income Households. To comply with this requirement, dwelling units or shelter beds must be Affordable to and restricted for Extremely Low-Income Households with household income of no more than 30 percent of Area Median Income (AMI). 4. No more than 20 percent of the program Program Funds and Matching Funds, after deducting administrative expense, shall be expended on assistance to Moderate-Income Households. To comply with this requirement, dwelling units must be Affordable to and restricted for Moderate-Income Households with household income of no more than 120 percent of AMI. 5. The remaining program Program Funds and Matching Funds shall be expended on assistance to Lower-Income Households. To comply with this requirement, dwelling units must be Affordable to and restricted for Lower-Income Households with household income of no more than 80 percent AMI. Funding Activity requirements LimitsPursuant to Guidelines, Section 103, the funding minimums, and maximums apply as detailed below:-The minimum application request by an Applicant that is an existing Existing Local Housing Trust Fund shall be $1 million. -The minimum application request by an Applicant that is a new 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 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. -The maximum application request for all Applicants shall be $5 million.

Important dates

Opened

Jul 9, 2024

Application deadline

Ongoing

Expected award announcement

August 2024

Period of performance

2037

Funding details

Total estimated available

$53,000,000.00

Estimated amount per award

Dependant on number of submissions received, application process, etc.

Expected number of awards

Dependant on number of submissions received, application process, etc.

Letter of intent required

No

Matching funds

50%

Matching notes

Must be from dedicated sources of funding, such as taxes, fees, or loan repayments, or public or private contributions. Lines of credit and loans received by the Local Housing Trust Fund, or Funds restricted for housing use by state or federal law are not eligible sources.

Funding source

State

Funding source notes

Funding for this Notice of Funding Availability (NOFA) is provided by the Veterans and Affordable Housing Bond Act of 2018 (Proposition 1), adopted by voters on November 6, 2018.

Funding method

Advance(s)

Funding method notes

Awardees must provide specific project information to State Grants Management team with disbursement request form.

How to apply

Read the full guidelines on the grantor's site, then apply there. Nothing is submitted through this site.

Submission: url: https://calhcd.service-now.com/csp?id=sc_cat_item&sys_id=d0a0d77e4775615062339362736d433f

• Grant guidelines & application ↗
• Department of Housing and Community Development ↗
• Grantor's own update list ↗
• Original listing on grants.ca.gov ↗

Questions about this grant: name: Doniell Cummings; email: [email protected]; tel: 1-916-995-9006;