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.
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Implementation Status of HCD’s State Funded Programs
The charts below provide a snapshot of current program fund balances and an estimated outstanding pipeline of HCD-funded projects seeking tax credits and bond allocations.
Please view the most recently published Notice of Funding Availability Calendar for information on anticipated NOFA release dates, application due dates and award dates.
HCD 2019-20 Grants and Funding Accomplishments:
HCD awarded 958 grants and loans totaling more than $2.5 billion projected to:
- Preserve 16,481 housing units, subject to affordable rent or homeownership requirements.
- Rehabilitate 986 substandard housing units.
- Create 19,471 new affordable apartments and single-family homes.
HCD’s Asset Management and Compliance
- Oversaw nearly 1,110 affordable housing developments with a total loan balance of $2.2 billion, providing affordable homes and rental units to approximately 121,000 Californians.
- Reviewed and verified rent affordability for more than 950 HCD-funded developments
- Monitored and managed individual homeownership loans totaling approximately $54 million.
- Developed financial workout arrangements, extensions, and modifications for 8 affordable rental housing developments that provide affordable homes to 261 households, avoiding approximately $7.3 million in potential loss of public investment and preserving greatly needed affordable housing.
For more information on HCD’s accomplishments, please check out the Annual Report
Administrative Memos on HCD Programs
| Memo | Date | Subject | Description |
|---|---|---|---|
| 21-06 | August 11, 2021 |
Repeal of Stacking Prohibition of Multiple Department Funding Sources (PDF) |
Sets forth and repeals the Department’s stacking prohibition of multiple Department Funding Sources for all multifamily programs allowing the use of multiple funding sources on the same Assisted Unit in a single Project for applications submitted for HCD on or after July 1, 2021 |
| 21-05 | June 22, 2021 |
Notice of Omnibus Interpretive Guidance to Program Guidelines (PDF) |
Sets forth and repeals certain requirements under multiple multifamily financing programs for the purposes of securing Calendar Year 2021 disaster credits through the California Tax Credit Allocation Committee (CTCAC) |