Article I. National Housing Trust Fund Allocation. The Department will allocate funds competitively to developers for operating reserve grants and capital loans.
Assistance Type and Terms
AB 74 direct the Department to utilize 2018-2021 federal National Housing Trust Fund (NHTF) allocation for HHC. The Department must submit for three years a federal NHTF allocation plan starting in August 2018 that aligns with federal NHTF and AB 74 requirements. The Department will allocate these funds competitively to developers for operating reserve grants and capital loans.
AB 74 also allows the Department to utilize revenues appropriated to the Department from other revenue sources for HHC purposes. For FY 2018 only, the Department will allocate a portion of moneys collected and deposited into the Building Homes and Jobs Trust Fund for the HHC program. The Department will allocate these funds competitively to counties for acquisition, new construction, reconstruction, rehabilitation, administrative costs, capitalized operating subsidy reserves (COSR), and rental subsidies and rental assistance for existing and new supportive housing opportunities to assist the HHC program’s Target Population.
Eligible Applicants and Uses
NHTF Applicants: Organization, agency, or other entity (including a public housing agency, a for-profit entity, or a nonprofit entity) that is an Owner or Developer as defined by 24 CFR 93.2
NHTF Uses: Acquisition and/or new construction
SB2 Applicants: Counties
SB2 Uses: Acquisition, new construction or reconstruction and rehabilitation, administrative costs, capitalized operating subsidy reserves (COSR) and rental subsidies