September 2, 2020
San Diego Housing Commission Announces More Than $46 Million Available to Create and Preserve Affordable Housing
Funds include $21.6 million designated, for the first time, specifically to preserve or extend affordability
SAN DIEGO, CA — With the ongoing need for more rental housing that San Diego families with low income can afford, the San Diego Housing Commission (SDHC) announces more than $46 million is available from federal and local funds SDHC administers to create and preserve affordable rental housing units, including homes for individuals and families experiencing homelessness.
This funding includes $21.6 million set aside, for the first time, specifically to preserve or extend the affordability of existing rental housing units in the City of San Diego—a significant need identified in the SDHC report Preserving Affordable Housing in the City of San Diego.
“It’s incredibly exciting to see more than $46 million become available to confront our housing crisis, particularly $21.6 million to preserve existing affordable rental housing. The affordable housing preservation study we released this summer won’t just sit on a shelf—we’re already taking action to implement its recommendations. I’m looking forward to partnering with the Housing Commission and the private sector to put these dollars to work for San Diego’s families,” said San Diego City Council President Georgette Gómez.
In addition to the preservation funding, up to $25 million is available to support the development of new affordable housing units or to rehabilitate existing affordable housing. This includes $10.6 million for permanent housing with supportive services for individuals and families experiencing homelessness.
“Addressing the City of San Diego’s housing challenges requires a balanced approach that creates new housing, while making sure that existing affordable units remain affordable. These funds will provide essential support for both of these efforts,” SDHC President & CEO Richard C. Gentry said.
SDHC will award funds and, in some cases, rental housing vouchers to qualified developers and organizations through a competitive application process.
Rental housing units created or rehabilitated with these funds will be required to remain affordable for at least 55 years. Existing units—including naturally occurring affordable housing without current rent restrictions—would be subject to long-term affordability restrictions if SDHC awards funds to those properties.
Developers may apply for funds through SDHC’s Notices of Funding Availability (NOFAs) to obtain financing that is essential to fill the gap in funding that remains after all other available sources of funds have been secured.
The deadline to submit an application for funds through these NOFAs is October 30, 2020, at 2 p.m.
These SDHC NOFAs are available through SDHC’s Vendor Portal on PlanetBids, which may be accessed through SDHC’s website, www.sdhc.org
Through Fiscal Year 2020 NOFAs released on September 23, 2019, SDHC awarded more than $22.1 million to support the creation or rehabilitation of more than 880 affordable rental housing units and more than 500 rental housing vouchers to help households with low income (288) or experiencing homelessness (215) pay their rent at these developments.
SDHC’s newly released NOFAs for Fiscal Year 2021 are:
Preservation
- Up to $21.6 million for the preservation of multifamily affordable rental housing:
- Up to $16.6 million for the preservation of naturally occurring affordable housing; and
- Up to $5 million for the preservation of affordable housing with existing deed restrictions that will be expiring.
- Funds are subject to SDHC’s determination of the available sources of funds at the time they are awarded and approved.
- Funds will be awarded as forgivable loans in exchange for long-term affordability restrictions with or without capital improvements.
- Funds may be used for acquisition, pre-development and residential rehabilitation of existing unrestricted naturally occurring affordable housing and deed-restricted affordable rental housing in the City of San Diego.
- This NOFA does not include rental housing vouchers.
Affordable Housing and Permanent Supportive Housing
- Up to $25 million:
- Up to $10.6 million for permanent supportive housing for individuals and families experiencing homelessness; and
- Up to $14.4 million for affordable rental housing.
- Funds are subject to SDHC’s determination of the available sources of funds at the time they are awarded and approved.
- Funds may be used to facilitate acquisition and new construction, acquisition with rehabilitation, or rehabilitation of affordable rental housing for households with low income and individuals and families experiencing homelessness.
- Permanent supportive housing funds are part of HOUSING FIRST – SAN DIEGO, SDHC’s homelessness action plan, which has created more than 9,200 housing solutions in five and a half years for individuals and families experiencing homelessness.
- This NOFA includes up to 300 federal rental housing vouchers committed by SDHC—100 for housing with supportive services for individuals and families experiencing homelessness and 200 for affordable housing without supportive services.
SDHC may adjust and exchange funding sources and/or vouchers based on the available and most appropriate funding sources and/or vouchers for projects at the time a loan recommendation is presented to the SDHC Board of Commissioners.
###
Media Contact:
Scott Marshall
Vice President of Communications
San Diego Housing Commission
619-578-7138
