Funding New Private Sector Affordable Housing Development

CEO-Affordable Housing

County Spending Category
1.2 Reduce the Affordable Housing Shortfall
Federal Expenditure Category
Long-term Housing Security: Affordable Housing
Project Launch Date
08/21/2022
Anticipated End Date
12/31/2026

Project Contacts

Indicators & Metrics to Date

  • Number of Affordable Housing Units Preserved or Developed
    0
  • Number of units
    0
  • Open solicitations for NOFA process
    0
  • Review and score applications
    0
  • Notification of Funding to Developer
    0
  • Monitoring Construction Milestones
    0
  • Monthly Meetings with DMH and DHS
    0

Target Populations

  • People with Disabilities
  • Individuals Experiencing Mental Health Disorders
  • Individuals Experiencing Substance Use Disorders
  • People Experiencing Homelessness

Project Description

The Los Angeles County Development Authority “LACDA” implemented the Funding New Private Sector Affordable Housing Development project to ensure that the homeless and our most vulnerable residents can have access to 500-700 affordable housing units. Studies have shown that people who are homeless are among one of the most vulnerable groups of people impacted by COVID-19 because they are more likely to be older male smokers, with many underlying medical conditions, and under pre-COVID-19 conditions were 10 times more likely to die than the general population. People who are homeless generally cannot maintain social distancing in shelters or other public spaces and there is insufficient access to handwashing or hygiene increasing the vulnerability of virus transmission and health complications. The project will provide low-interest loans and permanent financing to approximately 7 Affordable Housing Developers. The project will use an Affordable Multifamily Rental Housing Notice of Funding Availability “NOFA” process to solicit projects from Developers for the construction or rehabilitation of affordable housing for qualifying populations based on Equity Explorer. Funds will be used for construction and permanent financing, with projects required to maintain affordability for a minimum of 55 years and onsite supportive services with DHS and Mental Health. By issuing this NOFA and providing housing, the completion of this project will lead to new affordable housing units, provide safe and secure housing options, and mitigate the spread of the virus. The homeless populations to be housed include the most vulnerable to COVID.

Goals & Objectives

Goal Description By February 2025, increase access to construction and permanent financing for developers that will build approximately 500-700 affordable housing units

Objective Description Provide funding to approximately 7 Developers through the NOFA selection process.

Activity Description Release the NOFA on online portal that Developers can submit their applications and this is promoted through the County's webven portal, LACDA website, and other social media platforms to spread as much awareness as possible to different vendors.
Indicators
# Type Name Baseline Target
1 Performance Open solicitations for NOFA process 1.00

Activity Description There is a scoring matrix that is published for NOFA that LACDA reviews with their consultants.
Indicators
# Type Name Baseline Target
1 Performance Review and score applications 1.00

Activity Description Once the funding is approved by the Director, then LACDA notifies the developers of their award. LACDA does their best to work with emerging developers to build their portfolio and experience with the County through bonus points in the scoring matrix.
Indicators
# Type Name Baseline Target
1 Performance Notification of Funding to Developer 1.00

Goal Description By December 2026, LACDA will have dispersed funds to developers to create 500-700 units of affordable housing for residents of LA County.

Objective Description Developers will build an estimated 500 affordable housing units based on program requirements and serve extremely low-income individuals and families who are homeless or are part of another qualifying population.

Activity Description LACDA monitors the progress of construction projects for developers. Payments are only made to developers once construction progress is verified and meeting timeline requirements. By monitoring the progress, LACDA intends to build 500 units of affordable housing for populations adversely impacted by COVID-19.
Indicators
# Type Name Baseline Target
1 Performance Number of units 500.00
1 Performance Monitoring Construction Milestones 1.00

Outcome Description Provide affordable housing to approximately 500-700 individuals to assist in reducing homelessness and providing safe living conditions where persons who are homeless or at-risk of homelessness can live affordably.

Goal Description Residents in these units will have access to onsite resident manager and onsite support services provider who will connect people with resources and referrals.

Objective Description Create partnerships with DHS & Mental Health to discuss access to supportive services at site locations. The overall benefits associated with this effort include providing housing and onsite supportive services to help increase housing tenure, decrease emergency room visits and hospitalizations, increase mental health outcomes for residents, and stabilizing people's lives.

Activity Description Discuss ways to offer onsite services and referrals to residents who may be experiencing exacerbated behavioral and physical health issues due to the long term impact of COVID-19.
Indicators
# Type Name Baseline Target
1 Performance Monthly Meetings with DMH and DHS 12.00

Outcome Description By funding the development of the affordable housing units, LACDA will be creating the space for DHS and DMH to carry out case management services and provide needed resources to individuals and families occupying these units.