The 2021-22 state budget appropriated $1.75 billion to fund a new HCD program, California Housing Accelerator. The California Housing Accelerator program is funded with monies received from the Coronavirus State Fiscal Recovery Fund established by the federal American Rescue Plan Act of 2021 (ARPA).

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. These funds will be used to fill funding gaps in shovel-ready projects that have received funding under other HCD programs and have been unable to access low-income housing tax credits.