Veterans Housing and Homeless Prevention/HCD

Purpose: The VHHP program finances the development of affordable rental and Transitional Housing for Veterans, with an emphasis on housing Extremely Low- Income Veterans experiencing Homelessness. The VHHP program is administered by the Department, in collaboration with the California Department of Veterans Affairs (CalVet) and the California Housing Finance Agency (CalHFA). The Veterans Housing and Homelessness Prevention loan provides post-construction residual receipts permanent loans to fund the development of affordable multifamily rental housing that contains permanent supportive housing units and affordable housing units for veterans and their families. Funds are used for the acquisition and/or construction or rehabilitation of an affordable rental housing development or transitional housing, or the conversion of an existing structure. Funds shall be used for approved development costs and to refinance loans used to cover such costs. The maximum loan amount is $15 million per project. Base amount/assisted unit is $95,000 for 9% tax credit projects and $175,000 for non-9% tax credit projects. Manager’s units will receive a loan amount based on 60% AMI. Funding is available statewide with geographic targeting to encourage the development of Veteran housing in regions with high concentrations of California’s most vulnerable Veterans. Awards may be adjusted to meet these targets, if necessary.

• PSCHousing, Community and Economic Development

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  hcdvets@hcd.ca.gov