Loan Portfolio Restructuring Program (LPR)

Assembly Bill 1699 (AB 1699) was enacted in 2012. It authorizes the Department of Housing and Community Development (HCD) to restructure existing loans in specified HCD loan programs listed below. HCD adopted guidelines for implementing the requirements and named the program the Loan Portfolio Restructuring (LPR) Program.

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)

Contact Us

For questions or to discuss your transaction prior to submitting, contact us.

(916) 263-2771

Email Us

Notice of Funding

Apply Now

Reporting & Compliance

Guidelines

Notice of Funding

Apply Now

Application Process

Complete the LPR Application Form below along with the appropriate Schedule of Rental Income (SRI) and submit electronically to the HCD's Transactions Unit email: HCDTransactionUnit@hcd.ca.gov.

California Department of Housing and Community Development
Transactions Unit
Loan Portfolio Restructuring Program
2020 West El Camino Avenue, Suite 500
Sacramento, CA 95833

Program Publications

AB 1699 HCD Loan Restructuring Program

LPR Application Form (XLS)

Reporting and Compliance

Eligibility

Assistance Type

Restructuring means one or more of the following:

Extension of the original HCD loan term (or terms, if there are multiple HCD loans),
Subordination of the HCD loan or loans to a new senior loan, and/or
Tax credit investment in the project.

Eligible Projects

The LPR Program applies exclusively to restructuring of loans originally funded under the following HCD programs:

Rental Housing Construction Program Original (RHCP-O) established by Chapter 9 (commencing with Section 50735),
The Special User Housing Rehabilitation Program (SUHRP) established by Section 50670,
The Deferred Payment Rehabilitation Loan Program (DPRLP) established by Chapter 6.5 (commencing with Section 50660),
The rental component of the California Natural Disaster Assistance Program (CALDAP) established by Section 50671,
The State Earthquake Rehabilitation Assistance Program (SERA) established by Section 50671,
The rental component of the California Housing Rehabilitation Program (CHRP-R) established by Section 50668.5,
The component of the Rental Housing Construction Program funded with bond proceeds (RHCP-B) pursuant to Section 50771.1,
The Family Housing Demonstration Program (FHDP) established with Section 50880, and
The Families Moving to Work Program (FMTW) established by Section 50880.

Resources

LPR Specific Documents

Other Resources

Google™ Translate Disclaimer

The California Housing and Community Development website uses Google™ Translate to provide automatic translation of its web pages. This translation application tool is provided for purposes of information and convenience only. Google™ Translate is a free third-party service, which is not controlled by the California Housing and Community Development. The California Housing and Community Development is unable to guarantee the accuracy of any translation provided by Google™ Translate and is therefore not liable for any inaccurate information or changes in the formatting of the pages resulting from the use of the translation application tool.

The web pages currently in English on the California Housing and Community Development website are the official and accurate source for the program information and services the California Housing and Community Development provides. Any discrepancies or differences created in the translation are not binding and have no legal effect for compliance or enforcement purposes. If any questions arise related to the information contained in the translated website, please refer to the English version.

The following pages provided on the California Housing and Community Development website cannot be translated using Google™ Translate:

Forms
Publications
Field Office Locations
Online Applications