Housing trust fund

The Department of Housing and Urban Development Assistant Secretary for Community Planning and Development awarded the State of California Department of Housing and Community Development $23,448,689.68 under the Housing Trust Fund (CFDA 14.275) on September 24, 2025, for production, preservation, and rehabilitation of rental housing for extremely low-income and very low-income households.

The recipient must use at least 80 percent of the award for rental housing acquisition, new construction, or rehabilitation to serve households with incomes at or below 30 percent of area median income or the federal poverty line, whichever is greater. Up to 10 percent may support homeownership activities and up to 10 percent for administrative and planning costs. The recipient may also use up to 30 percent for operation of rental housing acquired, constructed, or rehabilitated with these funds. The recipient provides assistance through grants, equity investments, or interest-bearing or non-interest-bearing loans.

The award is a formula grant with a period of performance through September 24, 2032, and place of performance in Sacramento, California. Drawn-down funds must be expended within fifteen days; all funds must be committed to projects within 24 months and fully expended within five years. The recipient is required to submit an HTF allocation plan by August 16, 2026.