Right Column
Affordable Housing Innovation Program - Practitioner Fund (AHIP-P)
Purpose
Provide acquisition financing to pre-qualified developers for the development or preservation of affordable housing.
Assistance Type
Loans for developers, provided directly by HCD.
Assistance Terms
To be determined. Loan terms may not exceed 5 years.
Eligible Activities
Property acquisition.
Eligible Applicants
Applicants must be 501(c)(3) nonprofits, have California housing development experience, substantial affordable housing development experience, at least 25 employees, at least $200 million in assets, and organizational stability and capacity. They must also be able to demonstrate the availability of leveraged funds.
Application Process
HCD expects to issue a Request for Qualifications (RFQ) in early 2009. Applicants will apply directly to HCD, and applications will be evaluated on a competitive basis.
Contact
(916) 322-1560 or http://www.hcd.ca.gov/contact.html