DR-INF/MIT-RIP funds helps local governments (Subrecipients) in impacted areas rebuild their communities’ infrastructure in a more resilient manner to withstand future natural disasters.
In addition to the reports required in connection with the Existing HCD Commitment, Sponsor shall annually submit a report that details and certifies to HCD the following:
Funding available under this program is derived from the Coronavirus State Fiscal Recovery Fund (CSFRF), established by the federal American Rescue Plan Act of 2021 (ARPA) (Public Law 117-2). In the Budget Act of 2021, the State of California allocated ARPA funds to this program.
If a project was awarded VHHP funding with a 4% TCAC then switched to a 9% TCAC without unit mix changes would it be eligible? Would it be eligible if the project received the 9% award?
California Housing Accelerator enables shovel-ready affordable housing projects that, despite having received one or more awards from other HCD programs, are unable to move forward due to funding gaps that resulted from their inability to access tax-exempt bond allocations or low-income housing tax credits. The intent of this program is to reduce the backlog of projects “stuck” in the funding pipeline to accelerate the development of housing for those most in need.