In 2017, the Building Homes and Jobs Act established a recording fee on all real estate documents to increase the supply of affordable homes in California. Additional information is available on the State's PLHA website. There are two types of assistance: Formula and Competitive.
The amount available to a jurisdiction is based on a formula. Based upon the Notice of Funding Availability, it is anticipated that the City of Grover Beach will receive $121,182 in the first year of the program, and approximately $727,093 in total in the first five years of the program.
On June 1, 2020, the Council authorized the submission of an application that would place the funds with the San Luis Obispo Housing Trust Fund to be utilized for housing within the City. The application was submitted on July 27, and is under review by the State Department of Housing and Community Development (HCD).
HCD published a Notice of Funding Availability on August 31, 2020. Eligible activities for the competitive allocation are:
Development of new multifamily rental housing that is affordable to households at or below 60-percent of AMI or substantial rehabilitation of multifamily rental housing that will be affordable to households at or below 60-percent of AMI, but which is not currently restricted as affordable housing; or
Assistance to persons who are experiencing or at risk of homelessness, including, but not limited to, through rapid rehousing, or rental assistance, supportive services and case management services that allow people to obtain and retain housing, operating and capital costs for navigation centers, or new construction, rehabilitation, or preservation of permanent or transitional rental housing.