Affordable Housing

9% Federal Low-Income Housing Tax Credits for Affordable Rental Housing – California Tax Credit Allocation Committee
Deadline: Early 2024
Who is Eligible

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.

What it Funds

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

When to Apply

Applications are accepted twice annually. Applications for Round 1 have a deadline of Tuesday, April 25, by 5:00 pm. Applications for Round 2 will be due Tuesday, August 8, by 5:00 pm.

Available Funds

$98.6 million (2020), 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.

Award Size


Large

Level of Effort to Apply


High

Competitiveness

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. 28 out of 60 were awarded in Round 1; 55 out of 103 applications were awarded in Round 2 (2021).

Infill Infrastructure Grant Catalytic Program – California Department of Housing and Community Development
Deadline: December 20, 2023, by 4:00pm PST.
Who is Eligible

City, county, or public housing authority that has jurisdiction over a Catalytic Qualifying Infill Areas (CQIA). A metropolitan planning organization may participate as a co-applicant.

What it Funds

Eligible costs include, but are not limited to, the creation, development, or rehabilitation of Parks or Open Space; water, sewer or other utility service improvements (including internet and electric vehicle infrastructure); streets; roads; Transit Station Structured Parking; transit linkages or facilities; facilities that support pedestrian or bicycle transit; traffic mitigation, sidewalk, or streetscape improvements; Factory-Built Housing components; Adaptive Reuse; and site preparation or demolition.

When to Apply

Applications are accepted over the counter through December 20, 2023, no later than 4:00pm PT.

Available Funds

$94 million available in FY 2023-24.

Small Jurisdictions have a Maximum Award Amount of $7.5 million, and a minimum of $1 million.

Award Size


Small, Medium, and Large

Level of Effort to Apply


High

Competitiveness

8 out of 9 proposals were awarded in Round 10. Awards will be recommended on a first-come first-served basis until funds exhaust.

National Housing Trust Fund Program – California Department of Housing and Community Development
Deadline: January 5, 2024, by 5:00pm PST.
Who is Eligible

Individuals, joint ventures, partnership, limited partnerships, trusts, corporations, limited liability corporations, local public entities, duly constituted governing body of Indian Reservations or Rancherias or other legal entities or any combination thereof.

What it 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 Junio Accessory Dwelling Units.

When to Apply

The application deadline is 5:00 pm Pacific Standard Time (PST) on Friday, January 5, 2024, for Applicants seeking NHTF funds from Non-Rural Areas and Rural Areas Target funds. The application deadline is 5:00 pm PST on Thursday, February 1, 2024, for Applicants seeking NHTF funds from the Native American Entities Target and Federally Declared Disaster Areas Target funds.

Available Funds

Approximately $172 million is available in the current funding cycle (2024). No minimum or maximum awards listed.

Award Size


Small to Medium

Level of Effort to Apply


Medium

Competitiveness

Applications are scored based on a rubric. 29 proposals were awarded in the previous funding cycle.

Golden State Acquisition Fund – (GSAF)
Deadline: Ongoing
Who is Eligible

Nonprofit or for-profit corporations, cities, counties, and other public agencies within California, and joint ventures.

What it Funds

Loans to developers for acquisition or preservation of affordable housing.

When to Apply

Applications are accepted on a continuous basis.

Available Funds

The Golden State Acquisition Fund (GSAF) is a $93 million flexible, low-cost financing program. Loans are up to 5 years and a maximum of $13.95 million.

Award Size


Medium

Level of Effort to Apply
Competitiveness

To date, the GSAF loans have supported 18 projects across the state and created or preserved more than 1,490 housing units.

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