Grants and Funding
By administering programs that provide grants and loans (from both state and federal housing programs), HCD creates rental and homeownership opportunities for Californians from all walks of life, including veterans, seniors, young families starting out, people with disabilities, farmworkers, and individuals and families who are experiencing homelessness. Over the last three decades, HCD has provided more than $3 billion of funding for the development of affordable housing and associated infrastructure, but HCD’s role does not end once the awards are made. Through long-term monitoring, HCD ensures the developments continue to provide safe and affordable homes, and that the homes remain well-maintained and financially sound.
HCD 2018-19 Grants and Funding Accomplishments:
HCD awarded 276 grants and loans totaling more than $1.2 billion projected to:
- Preserve 4,747 housing units, subject to affordable rent or homeownership requirements.
- Rehabilitate 671 substandard housing units.
- Create 7,513 new housing units.
HCD’s Asset Management and Compliance
- Oversaw nearly 1,110 affordable housing developments with a total loan balance of $2.1 billion, providing affordable homes and rental units to approximately 59,000 Californians.
- Conducted 513 monitoring visits at HCD-funded properties.
- Monitored and managed individual homeownership loans totaling approximately $54 million.
- Developed financial workout arrangements, extensions, and modifications for 10 affordable rental housing developments that provide affordable homes to 260 households, avoiding approximately $8.8 million in potential loss of public investment and preserving greatly needed affordable housing.