Local Housing Trust Fund Program
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The National Low Income Housing Coalition is providing this data as a public service. NLIHC will continue to update the database. The accuracy of the data is based on information provided by the programs' administrators and user submissions.
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The Local Housing Trust Fund program finances local trust funds dedicated to the creation or preservation of affordable housing. Funds made available are in the form of matching grants to eligible city, county, or non-profit applicants for the purpose of supporting new local housing trust funds. Funds can be used by the grantee to provide loans to cover pre-development, acquisition, construction, or rehabilitation for eligible projects. Rental projects must be restricted to households with incomes of no more than 60% of area median income (AMI), for 55 years. Projects include construction of rental housing and down payment assistance to qualified first time home buyers.
Funding Description:
The program is funded through State Bond Funds.The program received funding through Proposition 1C in 2006. Proposition 1C issued a $2.85 billion bond for affordable housing and infrastructure in 2006. Through this Proposition, the Local Housing Trust Fund program received $35 million. All grants are matched dollar-for-dollar by the applicant. Maximum funding is $2 million. In FY11-12, three communities (Sacramento, Ventura, and Yolo) received $2 million each to fund their local trust funds.In 2014, $8.1 million were made available for Local Housing Trust Fund funding.
Website: http://www.hcd.ca.gov/financial-assistance/affordable-housing-innovation-fund/lhtf.html
Contact: Steven Marshall, California Department of Housing and Community Development, (916) 263-6115 [email protected]
