With funds gathered as part of Senate Bill 2, the California Housing Finance Agency (CalHFA) has made $40 million available for its new Mixed-Income Program.
CalHFA’s Mixed-Income Program provides competitive, long-term gap financing for the construction of new rental housing developments that are affordable for a mix of incomes between 30 and 120 percent of the area median income. It can be used in conjunction with CalHFA’s Permanent Loan program or be paired with a loan offered by one of the Mixed-Income Program’s Preferred Lenders.
The April 30 application deadline is to ensure projects can meet the CDLAC application deadline in October 2019.
