AB 880

Bill Subjects

Abstract

Existing law requires the Department of Housing and Community Development to allocate funds under the federal Community Development Block Grant Program to cities and counties. Existing law requires the department to determine and announce in the applicable Notice of Funding Availability the maximum grant request limitation for each applicant of which a maximum per year can be used for either general program or economic development applications. Existing law requires the department to inform cities and counties that are eligible for economic development and general program grants of the eligibility criteria and requirements. This bill would, upon appropriation of the Legislature, establish the Affordable Disaster Housing Revolving Development and Acquisition Program to fund the predevelopment expenses, acquisition, construction, reconstruction, and rehabilitation of property to develop or preserve affordable housing in the state's declared disaster areas that have experienced damage and loss of homes occupied by or affecting lower income households. The bill would require the department to administer the program. The bill would require the department to establish an application process for community development financial institutions, as defined, to apply for emergency short-term or temporary loans under the program. This bill would require community development financial institutions receiving awards through the program to issue short-term loans to nonprofit housing development corporations, tribally designated housing entities, and local government agencies to fund the cost of developing dwelling units and transitional housing, childcare, after school care, and social service facilities that are integrally linked to the dwelling units, as specified. The bill would authorize certain cost categories related to the development of dwelling units, including the acquisition of real property, new construction or rehabilitation, general property improvements that are necessary to correct unsafe, unhealthy, or unsanitary conditions, and necessary and related onsite and offsite improvements.