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Preservation Interim Repositioning Program (PIRP)

Purpose

Preserve assisted rental housing at-risk of conversion to market-rate use.

Assistance Type

Short-term acquisition loans.

Terms

Offered as a package with other subordinate financing.

Eligible Activities

Loan proceeds will be used to finance the acquisition of at-risk rental housing for the purpose of preserving affordability.

Eligible Applicants

HCD has committed all available funds. New applications are not being accepted.

Application Process

New applications are not being accepted.

Contact

Russ Schmunk at (916) 327-2867 or rschmunk@hcd.ca.gov.