State Investment: $11.8 Million Granted to Local Homeowner
The California Department of Housing and Community Development (HCD) has recently made a groundbreaking announcement, allocating over $126 million in funding to enhance homeownership opportunities and foster neighborhood revitalization and sustainable development across 23 counties in California. This substantial investment is set to maximize the use of existing homes and support sustainable community growth.
A total of 38 awards from the CalHome program are earmarked to finance various projects aimed at assisting low- and very low-income households in their pursuit of homeownership. This funding, accessible to local government agencies, tribes, and nonprofit organizations, marks a significant effort to address housing affordability and accessibility in the state.
A notable portion of this funding, exceeding $11.8 million, is designated for projects in California’s Central Valley, a region that stands to benefit greatly from these initiatives. HCD Director Gustavo Velasquez emphasized the importance of homeownership in achieving housing security and building generational wealth. “CalHome presents a tremendous opportunity to make homeownership possible for people who never thought it would be attainable, strengthening both families and communities,” Velasquez stated.
In Clovis, the City has been awarded $1.39 million for owner-occupied rehabilitations of 20 units and $415,600 to assist first-time homebuyers for eight units, particularly benefiting owners of manufactured homes. Rural areas are also a focus, with Fresno County receiving $4.78 million, Tulare County $1.5 million, and Kings County $3.7 million for various housing projects.
Self-Help Enterprises, a notable recipient, has been granted $1.06 million to provide first-time homebuyer mortgage assistance across several counties, including Kern, Tulare, Merced, and Madera. This funding will support a total of 12 units.
Furthermore, the City of Parlier has received a significant $2 million for owner-occupied rehabilitation and an additional $1 million for the development of eight accessory dwelling units. The City of Orange Cove has been allocated $600,000 for the rehabilitation of four units. Habitat for Humanity Fresno, Inc. has been awarded $1.04 million for first-time homebuyer mortgage assistance and $141,750 for self-help technical assistance, aiding a total of 14 units.
In Tulare County, the City of Dinuba has been granted $750,000 each for first-time homebuyer mortgage assistance and owner-occupied rehabilitation, impacting a total of 11 units. In Kings County, the City of Avenal and the City of Corcoran have received substantial funding for accessory dwelling units and owner-occupied rehabilitation, as well as first-time homebuyer mortgage assistance.
The HCD’s announcement of the first-ever Homeownership Super Notice of Funding Availability (HOSN) in January set the stage for this significant allocation of funds, totaling about $170 million. This includes $135 million for the CalHome Program and $35 million for the Joe Serna, Jr. Farmworker Housing Grant Program.
CalHome’s diverse funding supports a range of initiatives, including first-time homebuyer mortgage assistance, owner-occupied rehabilitation, homeownership development, self-help technical assistance, and accessory dwelling unit/junior ADU programs.
The 38 CalHome awards are set to assist approximately 1,300 households across various counties, including Alameda, Butte, Calaveras, and many more, marking a significant stride in California’s efforts to promote accessible and sustainable housing solutions.
