Local Housing Trust Fund Matching Grant
300 MILLION MADE AVAILABLE TO HOUSING TRUSTS!
Proposition 1 passed in Nov. 2018 and authorized $4 billion in general obligation bonds for housing-related programs, loans, grants, and projects and housing loans for veterans. The bond revenue distribution includes $300 million for the state's Local Housing Trust Matching Grant Program (also called the Affordable Housing Innovation Program), which offers dollar-for-dollar matching grants to local housing trust funds (like NVHT!) for "pilot programs to demonstrate innovative, cost-saving approaches to creating or preserving affordable housing."
During the last round of funding, we could use these grants on loans for construction of rental housing projects with units restricted for at least 55 years to households earning less than 60 percent of area median income, and for downpayment assistance to qualified first-time homebuyers. We hope for the next round of funding to be available in early 2021. Dollars raised now can potentially be doubled when those grant funds are available. To find out more about how you can maximize your impact on regional housing by donating or investing in NVHT contact email@example.com