1 week Ago By Daily Republic Staff
FAIRFIELD – The Bay Area Housing Finance Authority is taking applications for funding for two programs, including the second round of the Housing Prevention Loan pilot and the new Housing Preservation Project Technical Assistance Grant Program. The application period for both programs opens on April 21. "BAHFA is releasing a second round of funding in the amount of $9.
05 million for the Housing Preservation Loan pilot, funded by the California Department of Housing and Community Development’s Regional Early Action Planning grant," the agency said. The program provides low-interest loans to nonprofit developers and community land trusts to acquire and rehabilitate residential properties occupied by low- and moderate-income residents. These properties must also be located in eligible geographies that incorporate state and regional priorities.
Grants of up to $250,000, per unit, are available to eligible borrowers. The funds can be used for acquisition and rehabilitation costs. Learn more at https://tinyurl.
com/eanxumbm ; and apply at https://experience.arcgis.com/experience/c9eab4f9411544c3b7e2f126fac1d23f .
The pilot was established with $17.8 million. Two projects were funded in the first round: $4.
25 million to the San Francisco Community Land Trust to preserve 16 affordable homes "in a neighborhood greatly impacted by rising rents and displacement of longtime residents;" and $4.5 million to the South Bay Community Land Trust in San Jose – with advisory and technical support from MidPen Housing Corporation – to purchase will preserve 18 apartment units as permanently affordable housing. The city added $5 million for the project.
The second program, the Housing Preservation Project Technical Assistance Grant Program, is new and funded by $325,000 from HCD and the San Francisco Foundation. Grants of up to $50,000 for pre-acquisition consulting costs are available. Learn more at https://tinyurl.
com/ytcyw3ha ; and apply at https://experience.arcgis.com/experience/8f25d6edc76e4baebb32208891001491 .
An information session for both programs is scheduled for 10 a.m. Thursday.
Register at https://tinyurl.com/y3n5zpn.
