Long-term loans for the acquisition, construction, rehabilitation, and preservation of affordable multifamily housing for veterans and their families to allow veterans to access and maintain housing stability.
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Upon completed construction of your project and closing of your HCD permanent loan, oversight of your project and loan is transferred to HCD’s Reporting and Compliance: Loan Programs section.
California is home to the largest veteran population in the nation. Unfortunately, many of them experience homelessness on any given night. Homeless veterans are overrepresented in the homeless population and veteran status is associated with a higher risk of homelessness.
In 2008, California voters approved Proposition 12, the Veteran’s Bond Act of 2008, authorizing $900 million in general obligation bonds intended to help veterans purchase single family homes, farms, and mobilehomes through the California Department of Veterans Affairs (CalVet) Home Loan Program. As a result of the nation’s economic crisis and the State’s housing downturn, coupled with the changing demographics of our veterans, the CalVet Home Loan Program has not experienced the demand that was originally projected before the downturn.
In 2013, AB 639 (Chapter 727, Statutes of 2013, Pérez) restructured the Veteran’s Bond Act of 2008 authorizing $600 million in existing bond authority to fund multifamily housing for veterans. With the approval of Proposition 41 by California voters on June 3, 2014, the Department of Housing and Community Development (HCD), in collaboration with the California Housing Finance Agency (CalHFA) and CalVet, is in the process of designing, developing, and administering a veteran multifamily housing program pursuant to AB 639 (Chapter 727, Statutes of 2013, Pérez).
Funds must be used to serve veterans and their families.
“Veteran” means any person who served in the active military, naval, or air service of the United States or as a member of the National Guard who was called to and released from active duty or active services for a period of not fewer than 90 consecutive days or was discharged from service due to a service-related disability. This includes veterans with other-than-honorable discharges.
At least 50 percent of the funds awarded shall serve veteran households with extremely low incomes. Of those units targeted to extremely low-income veteran housing, 60 percent shall be supportive housing units.
** Please note — The VHHP Program does not provide funding directly to individuals. If you are a veteran in need of assistance, please contact the U.S. Department of Veteran Affairs’ Nation Call Center for Homeless Veterans Hotline at 1-877-4AID VET (1-877-424-3838) or the California Department of Veterans Affairs .
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VHHP Overview and Tribal Listening Session
VHHP Stakeholder Briefing Round 6 Draft Guidelines
Notice of Amendment to TOD (Rounds 1-3) and VHHP Guidelines (Rounds 1-4) (PDF)
