This program offers financial support to help you develop and preserve affordable housing, a vital need in our communities. You can use the funding for a variety of activities, from building new homes to rehabilitating existing properties. The best part? It comes in the form of grants with no repayment requirements, allowing your business to grow without the burden of debt.

By taking advantage of this opportunity, you can enhance your business's relevance and reputation while making a lasting impact in your community. With available funds in high-cost areas, you’ll be positioned to provide innovative solutions like rental assistance or transitional housing. Not only will this help address the urgent need for affordable housing, but it also enables your business to contribute positively to the local economy and well-being of residents. This is an excellent chance for your business to thrive and make a difference simultaneously.

Type of Financing

You have access to grants and low-interest loans through this program. Grants do not require repayment, making them an excellent option for funding your housing projects. The low-interest loans come with favorable terms, but specific details regarding interest rates and repayment schedules may depend on your project's nature and circumstances.

Eligible Expenses

These funds can be used for various expenses, including:

• Development of affordable housing
• Acquisition and rehabilitation of properties
• Operating subsidies for affordable living spaces
• Assistance to those at risk of homelessness, including rapid rehousing and rental assistance
• Homeownership opportunities like down payment assistance
• Accessibility modifications in lower-income housing

Restrictions and Fees

It’s essential to note that the funds cannot be used for non-housing related expenses or any luxury amenities. Additionally, check if there are any application or processing fees involved, as these could vary by program specifics. Always review the program guidelines for clarity.

• Location: The program is available in California, particularly in high-cost areas.
• Sectors: Open to all sectors.
• Employees:
  • No minimum employees required.
  • No maximum employees required.
• Company Revenue:
  • No minimum revenue qualifications.
  • No maximum revenue qualifications.
• Legal Structure: All legal structures are applicable.
• Profit Structure: All profit structures are applicable.

Disqualifications: None mentioned.

This program offers financial support for your business to develop and preserve affordable housing options. You can use this funding for activities such as building new homes, rehabilitating existing properties, or creating supportive housing for individuals at risk of homelessness. The funds can also help you with necessary operating costs, which makes managing your projects easier.

You can access grants with no repayment requirements, allowing you to focus on your community and business growth without the stress of paying back the funds. The flexibility of this program means it is available in high-cost areas of California, so you can maximize its value right where you operate.

By participating, you can contribute to addressing the urgent need for affordable housing. This enhances your business's relevance and reputation, while also making a significant impact in the community. Whether it's providing rental assistance or creating unique housing solutions, you have the potential to drive lasting change.