Transit-Oriented Development (TOD) Housing Program

Purpose: To increase public transit ridership by funding higher density affordable housing developments within one-quarter mile of transit stations and infrastructure improvements necessary for the development of specified housing developments. The California Department of Housing and Community Development (HCD) announced the release of the Notice of Funding Availability (NOFA) for approximately $141 million in funds for the Transit-Oriented Development (TOD) Housing Program. This funding provides low-interest permanent Loans to eligible Sponsors for Rental Housing Developments. It also provides Grants to Localities and public transit agencies for Infrastructure Projects necessary for the development of specified Housing Developments, or to facilitate connections between these developments and a Transit Station. This Notice of Funding Availability makes funding available to Sponsors, Localities, and transit agencies for the purpose of increasing public ridership by funding higher density developments within one-quarter mile of Transit Stations and infrastructure improvements necessary for the development of specified housing developments. Under the program, low-interest loans are available as gap financing for rental housing developments near transit that include affordable units. In addition, grants are available to Localities and transit agencies for infrastructure improvements necessary for the development of specified housing developments, or to facilitate connections between these developments and the transit station. The maximum Program Rental Housing Development Loan amount awarded for a single Housing Development or to a single Applicant, including any affiliates of such Applicant, is $10 million. The maximum Program Infrastructure Project Grant awarded to a Locality or transit agency Applicant is $5 million. The total maximum award amount for a single Project is $15 million. Eligible Applicants: Refer to program Guidelines.

• PSCHousing, Community and Economic Development

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  tod@hcd.ca.gov