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
Anticipated End Date

Project Contacts

This project does not currently have any contacts

Indicators & Metrics to Date

  • Number of Affordable Housing Units Preserved or Developed
  • Number of units

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 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 Test
# Type Name Baseline Target
1 Performance Number of units 500.00

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.

Objective 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.

Objective Description Meet 12 times a year 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.

Objective Description Developers will contract with supportive services providers who have an executed contract with DHS & Mental Health, which states that the developers will provide supportive services at affordable housing sites through approved providers.

Goal Description Increase affordable housing supply in Los Angeles County by approximately 500 units.

Goal Description Increase housing stability for up to 500 families most impacted by the pandemic and who will have access to the delivery of supportive services for low-income and special needs individuals.