The California Housing Finance Agency (CalHFA) Mixed-Income Program (MIP) is funded by the Building Homes and Jobs Act signed into law in 2017. Beginning in 2019, and continuing on an annual basis, CalHFA will receive 15 percent of the Building Homes and Jobs Act Fund, expected to be $30 – $45 million, to provide residential mixed-income housing with unit restrictions between 30 percent and 120 percent of the area median income. $40 million in funds available and applications are due between Feb. 5 and April 30. The MIP term sheet is available here.
Workforce housing Tag Archives
In a Microsoft Corporate Blog, president Brad Smith and CFO Amy Hood committed $500 million in loans and grants to accelerate the construction of more affordable housing across the Seattle region across the next three years.Read More
Governor Gavin Newsom (D-CA) published his 2019-2020 proposed budget summary. In total, the Budget includes $7.7 billion across multiple departments and programs to address housing and homelessness throughout the state.Read More
The bill models after the Low-Income Housing Tax Credit, one key difference being income restrictions, which are set at 100 percent or less of area median income. The credit would provide 50% of qualified basis.Read More