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To initiate a restructuring transaction with the Transactions Unit, inquire at the following email address: HCDTransactionUnit@hcd.ca.gov. A Transactions Unit representative will provide you with the application.
To initiate a restructuring transaction with the Transactions Unit, inquire at the following email address: HCDTransactionUnit@hcd.ca.gov. A Transactions Unit representative will provide you with the application.
HCD issues plans and reports, in addition to those that are federally and state-mandated, to educate all Californians on housing policy topics and to promote a more affordable and equitable housing landscape throughout the state.
The restructuring of HCD’s loans is intended to preserve affordable housing units that would have been lost to termination of the regulatory provisions restricting rents and occupancy, to address physical deterioration of the property, and/or to improve project fiscal integrity. (Sections 50560, 50561 and 50562, Chapter 3.9 of Part 2 of Division 31 of the Health and Safety Code)
Riverside County recently reported that its coordination of local, state, and federal resources through its Homelessness Action Plan led to a 19-percent reduction in unsheltered homelessness in the 2025 Point-In-Time Count.
Among the HCD resources behind this positive change were funds from the state-funded Homeless Housing, Assistance and Prevention Grant program and the federally funded Emergency Solutions Grant – CARES Act (ESG-CV) program. Collective resources allowed the county to expand emergency and permanent housing; shelter bed capacity increased by 57 percent from 2023 to 2025. Riverside County also enacted targeted interventions and multi-disciplinary coordination, and strategic investments were made in enhancing service provider capabilities.
ESG-CV funding allowed Riverside County to respond quickly to the COVID-19 pandemic at scale and adapt services quickly, while also making system improvements to its homeless services system. These funds helped create flexible, scalable interventions that met people where on the streets, in shelters, or exiting institutions. HCD provided technical assistance that led to the implementation of regional street outreach teams throughout the county, maximizing reach and accelerating housing assistance to vulnerable adults in hard-to-reach areas.
ESG-CV funding enabled Riverside County to serve nearly 5,400 individuals experiencing homelessness. Street outreach teams worked together with the Coordinated Entry System to refer individuals to housing assistance at various regional emergency shelters and housing units funded through ESG-CV.
ESG-CV investments helped transition 1,413 individuals into permanent housing. An additional 538 people were connected to temporary housing placements, bridging the gap to permanent options. Among those placed into housing, 81 percent retained their housing, affirming the effectiveness of ESG-CV investments in stabilizing vulnerable populations.
HCD in accordance with Assembly Bill 434 (Chapter 192, Statutes 2020), is working to make our multifamily housing program funds accessible to more developers and communities, more equitable in serving the lowest-income Californians, and more targeted toward achieving better outcomes in health, climate, and household stability.
The fastest way to apply is through the online application portal.
You may qualify for the ReCoverCA Program if you meet all the requirements below.
To login to the 2020 and 2021 programs, visit the online portal.