2024 LHTF NOFA Round 5

Department of Housing and Community DevelopmentAmount not specifiedNo deadline listed

Unofficial — verify with the issuing agency before applying.

Nonprofits Government / tribal Narrow eligibility

Deadline: Not specified
Posted: Jul 9, 2024
Award amount: Amount not specified
Focus areas: Housing Community and Economic Development

In plain English

Open to nonprofits, public agencies, and tribal governments through California's Department of Housing and Community Development (Local Housing Trust Fund NOFA, Round 5). Provides low-interest (up to 3%) construction and permanent financing loans for affordable rental housing, shelters, supportive housing, and accessory dwelling units. At least 30% of funds must serve extremely low-income households, no more than 20% may serve moderate-income households, and administrative costs are capped at 5%, making this a fairly restrictive, compliance-heavy program.

AI-generated summary to help you decide quickly — verify the official eligibility rules before applying.

Who can apply

Nonprofit; Public Agency; Tribal Government

About this grant

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.

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Source: public records via Grants.gov. UseGrants is an independent aggregator, not affiliated with any funding agency. Always confirm details on the official listing before applying.