COVID-19 Multifamily Housing Development Hardship Program
The San Diego Housing Commission’s (SDHC) Multifamily Housing Development Hardship Program provides temporary, short-term relief for affordable multifamily housing developments for which SDHC issued tax-exempt Multifamily Housing Revenue Bonds and/or awarded loans.
Relief through this program is determined by SDHC, in its sole discretion, on a case- by- case basis.
Multifamily Housing Finance
The San Diego Housing Commission’s (SDHC) Senior Asset Manager is available to assist multifamily affordable rental housing property owners who received financial assistance from SDHC to acquire, develop, or rehabilitate their property.
Residual Receipts or Surplus Cash Loans
Residual Receipts/Surplus Cash loan compliance is essential to create and preserve affordable housing in the City of San Diego.
The terms of the loans require property owners to submit reports and records annually to SDHC.
The required reports and records are included in the Annual Compliance Checklist.
The Residual Receipts Computation Form and Surplus Cash Computation Form help property owners to determine the funds due to SDHC. For help filling out the Residual Receipts Computation Form, refer to the Residual Receipts Computation Form – Instructions
It is important for property owners to complete each worksheet in the computation forms in their entirety. The computation forms help SDHC to analyze the financial stability of the affordable multifamily housing rental properties in SDHC’s loan portfolio.
SDHC asks property owners to submit the required annual compliance documents electronically via email to residualreceipts@sdhc.org. However, property owners may also submit hard copies of the documents:
San Diego Housing Commission
Real Estate Division
Attention: Senior Asset Manager
1122 Broadway, Suite 300
San Diego, CA 92101
Reserve Withdraw Request
To comply with the terms and conditions of the SDHC loan, borrowers are required to obtain SDHC’s approval prior to withdrawing funds from the operating or replacement reserve accounts for the affordable multifamily housing rental property.
To request approval, submit the Reserve Withdraw Request Form along with the documents listed on the form to residualreceipts@sdhc.org.
Property owners who have questions regarding their affordable multifamily housing rental property loan with SDHC may contact the Senior Asset Manager at residualreceipts@sdhc.org.
Forms & Documents
Annual Compliance Checklist/Cover page
Residual Receipts Computation Form
Residual Receipts Computation Form – Instructions
Homeowner’s Insurance Information Form
Lien Verification & Request to Furnish Information
Loss of Mortgage Credit Certificate Acknowledgement
Subordination Submission Instructions and Checklist (City of San Diego loans)
