EXHIBIT D
Homekey+ Program
NOFA Date: 11/26/2024; as amended 01/31/2025; 08/07/2025 Project Name:
Approved Date: 09/24/2025
Prep. Date: XX/XX/XXXX
37. Disputes
In the event of any conflict between this Agreement and any Grantee documents or side agreements, this Agreement and the Program Requirements shall prevail, are applicable, and shall be enforceable by the Department even if the Department provided review or approval of such documents and side agreements.
38. Consent
The parties agree that wherever the consent or approval of the Department or Grantee is required under this Agreement, such consent or approval shall not be unreasonably withheld, conditioned, or delayed, unless the same is specified as being in that party’s sole and absolute discretion, or other words of similar import.
39. Grantee Liability
Grantee shall remain liable to the Department for performance under this Standard Agreement and compliance with all Program Requirements regardless of any Department-approved transfer or assignment of interest, or of any designation of a third party for the undertaking of all or any part of the Scope of Work. Likewise, each Co- Grantee shall remain jointly and severally liable to the Department for performance under this Standard Agreement and compliance with all Program Requirements regardless of any Department-approved transfer or assignment of interest; any designation of a third party for the undertaking of all or any part of the Scope of Work; or the Co-Grantees’ identification of a Designated Payee.
40. Defense and Indemnification
Grantee agrees to defend, indemnify, and hold harmless the Department, and its appointees, agents, employees, and officers, from any losses, damages, liabilities, claims, actions, judgments, court costs and legal or other expenses (including attorneys’ fees), which may arise in connection with Grantee’s use of the Grant funds and performance under this Agreement. If any attorney, including the California Attorney General, is engaged by the Department to enforce, construe, or defend any provision of this paragraph, with or without the filing of any legal action or proceeding, Grantee shall, individually or jointly, pay to the Department, immediately upon demand, the amount of all attorneys’ fees and costs incurred by the Department in connection therewith.
Name(s) of Grantee(s)
25-HK+-XXXXX
EXHIBIT D
Homekey+ Program
NOFA Date: 11/26/2024; as amended 01/31/2025; 08/07/2025 Project Name:
Approved Date: 09/24/2025
Prep. Date: XX/XX/XXXX
41. Time Is of the Essence
Time is of the essence under this Agreement, and in the performance of every term, covenant, and obligation contained herein.
Name(s) of Grantee(s)
25-HK+-XXXXX
EXHIBIT E
Homekey+ Program
NOFA Date: 11/26/2024, as amended 01/31/2025; 08/07/2025 Project Name:
Approved Date: 09/24/2025
Prep. Date: XX/XX/XXXX
PROJECT-SPECIFIC PROVISIONS AND SPECIAL TERMS AND CONDITIONS
Gap Financing
[HCD Gap Financing sub-header is only added if the Project is a gap financing Project, otherwise, delete]
INSTRUCTIONS: HCD will add and delete yellow text as driven by the facts of this Project.
Text is marked green for the purpose of differentiating selection options or Boilerplate text from the nearby instructions in the yellow fields.
1. PROJECT-SPECIFIC PROVISIONS
Project Name:
Address:
Assessor Parcel Numbers (APNs):
[Repeat as needed for Scattered sites]
A. Award, Payee and Eligible Use(s)
The Department issued the Grantee a Homekey+ Program Conditional Award Letter dated [Date]. The Award is a grant in the amount of $[ .00]. The [Select “Payee” if Eligible Applicant, or “Designated Payee” if the Eligible Applicant designates one of the Co-Applicants.] Payee/Designated Payee] of these funds is [Full legal name of the Public Entity or Tribal Entity/Full legal name of the Co- Applicant]. Grantee will use the funds to provide Permanent Supportive Housing for the Target Population and subpopulations in the Homekey+ Assisted Units as specified in the unit mix chart included herein. Specifically, the Grantee will apply these funds towards the following eligible use(s): [Delete according to the facts of the Project.]
1) [Example: Acquisition and rehabilitation, acquisition, or rehabilitation [Select one of the prior 3] of a hotel or motel [or delete and enter what type of prior building use] to provide Permanent Supportive Housing for the Target Population].
2) [Example: Master lease of a property to provide Permanent Supportive Housing for the Target Population].
Name(s) of Grantee(s)
25-HK+-XXXXX
EXHIBIT E
Homekey+ Program
NOFA Date: 11/26/2024, as amended 01/31/2025; 08/07/2025 Project Name:
Approved Date: 09/24/2025
Prep. Date: XX/XX/XXXX
3) [Example: Capitalized operating subsidy for the Homekey+ Assisted Units] 4) [Example: Relocation costs for individuals who are being displaced as a result of the Homekey+ Project. This amount represents one-half of the relocation cost per unit. The Grantee is responsible for paying the balance of any and all relocation costs necessitated by the Project]. 5) [Example: New construction of dwelling units to provide Permanent Supportive Housing for the Target Population].
B. Homekey+ Award.
The Homekey+ Award is comprised of:
Total Award $0,000,000.00
Capital Award $
Acquisition $
Rehabilitation $
Master Leasing $
New Construction $
Affordability Covenants $
Relocation Award $
Operating Award $
Veteran Units Additional Operating Award
[Delete if Project does NOT have veteran-
serving units]
$
.
C. Unit Mix [see next page]
Name(s) of Grantee(s)
25-HK+-XXXXX
EXHIBIT E
Homekey+ Program
NOFA Date: 11/26/2024, as amended 01/31/2025; 08/07/2025 Project Name:
Approved Date: 09/24/2025
Prep. Date: XX/XX/XXXX
Table 1: Homekey+ Unit Mix [To be completed by HCD from the Awarded Application].
Number of
Bedrooms
Number
of
Homekey
+
Assisted
Units
AMI%
or
Manag
er Unit
[“30%”
for
Homek
ey,
“Manag
er
Unit”,
or
other AMI
“X
%” from
Applicat
ion Unit
Mix]
Homekey+
Population
[“Veteran
with a
Behavioral
Health
Challenge
”, or
“Homekey
+ General
Population
”]
Restriction to Subset
of Homekey+
Population
All foregoing
subpopulations must
include behavioral
health challenge.
[“Chronically
Homeless”,
“Homeless”, “At-Risk
of Homelessness”,
“Homeless Youth”,
“Youth At-Risk of
Homelessness”
Enter below and delete
this
highlighted text after
completion]
0 Bedroom/
Studio
1 Bedroom
2 Bedroom
3 Bedroom
4 Bedroom
Veterans Units
Total
Homekey+
General
Population
Total
Youth Units
Total
Manager Units
Total
Total Homekey+
Units
Non-Homekey+ Units- See Table 2
Name(s) of Grantee(s)
25-HK+-XXXXX
EXHIBIT E
Homekey+ Program
NOFA Date: 11/26/2024, as amended 01/31/2025; 08/07/2025 Project Name:
Approved Date: 09/24/2025
Prep. Date: XX/XX/XXXX
Table 2: Non-Homekey+ Unit Mix [To be completed by HCD from the Award Application ONLY IF the unit mix has non-HK+ units, otherwise put Non-Applicable & delete].
Non-
Homekey+
Units Number
of Bedrooms
[Delete this
table if there
are NO Non-
HK
Units]
Number of
Non-
Homekey+
Units
Non-
Homekey+
AMI % or
Manager Unit
[“XX %” for
AMI
or “Manager”]
Funding
Program
Name [Add
HCD before
Name if HCD,
use
acronym]
Restriction to
Subset of
Population
0 Bedroom/
Studio
1 Bedroom
2 Bedroom
3 Bedroom
4 Bedroom
Non-
Homekey+
Units Total
PROJECT
GRAND TOTAL:
Unit Mix Notes: [HCD to enter relevant details about Manager Unit or other nuances in the Homekey+ or Non-Homekey+ Units. If there are no notes, put “None” and delete highlighted text once done.]
Referrals to Homekey+ Assisted Units shall be made through the local Coordinated Entry System (CES), or another comparable prioritization system based on greatest need for housing and services, to determine the most appropriate referral. Grantees must demonstrate efforts to coordinate with their local county behavioral health department, to ensure the referral process to the Homekey+ units is aligned with the requirements of the Homekey+ program.
Homekey+ Assisted Units should be reserved for serving the Target Population where households are more appropriately served by Permanent Supportive Housing, including referrals from persons exiting encampments. Households with lower levels of need may be better served by other housing and less intense service interventions.
Name(s) of Grantee(s)
25-HK+-XXXXX
EXHIBIT E
Homekey+ Program
NOFA Date: 11/26/2024, as amended 01/31/2025; 08/07/2025 Project Name:
Approved Date: 09/24/2025
Prep. Date: XX/XX/XXXX
2. PROJECT DETAILS
A. Project Narrative. [HCD will provide a lean description of the Project including if Homekey+ contributed gap financing and project type (acquisition rehab, new construction modular or stick built, etc.) gap financing projects should list the existing HCD funding source include whether Homekey initially funded an Interim Housing Project to be converted with Homekey+ to PSH. Describe the property physical layout (# of buildings, stories, or unique historic uses) that is not duplicative from what is already in this SA. Briefly describe any physical features, services, or amenities that are unique to this Project such as pet friendly, or interesting community spaces such as a meeting room, a community room, or a communal kitchen. Describe other amenities that will be supplied, such as free high speed internet service, manager and/or residential service offices, proximity to public transit, and other essential services, etc.]
B. Units Serving Veterans. This Project received funding for [Enter # of Veterans units] Homekey+ Veterans units. Grantee shall abide by all additional representations in the Application that qualified the Grantee for funding for Veterans Assisted Units. Projects with units allocated for Veterans Projects must provide housing for Veteran households that include at least one Veteran experiencing or At Risk of Homelessness with a Behavioral Health Challenge. If units cannot be filled with Veterans at or below 30% AMI, Secondary Tenants can be housed, in accordance with NOFA Section 500. Secondary Tenants are defined as either: 1) Veterans who are At Risk of or Experiencing Homelessness whose incomes are up to 50% AMI and are receiving income as a result of service-connected disability benefits, or 2) Veterans experiencing homelessness with an income of up to 60% AMI. Rents for any redesignated units are determined by income that corresponds to the Secondary Tenant’s household income.
[HCD will delete the paragraph above if the project does not include any Veteran-serving units.]
This Project received an additional operating award of $30,000 per unit for X [Enter # of units] units, totaling $X [Enter Veteran Units Additional Operating Award amount out to as $000,000.00]. This funding is Awarded to pay for qualifying Operating Expenses and it must be expended no later than ten (10) years from initial occupancy.
[HCD will delete this paragraph if Project did not receive additional funds for veteran-serving units]
Name(s) of Grantee(s)
25-HK+-XXXXX
EXHIBIT E
Homekey+ Program
NOFA Date: 11/26/2024, as amended 01/31/2025; 08/07/2025 Project Name:
Approved Date: 09/24/2025
Prep. Date: XX/XX/XXXX
C. Units Serving Homeless Youth or Youth at Risk of Homelessness. This Project received funding from the Youth At Risk of or Experiencing Homelessness allocation for [Enter # of units]. The Grantee shall have jointly applied and/or partnered with a nonprofit corporation with experience serving the foregoing subpopulation; and the Project shall provide Supportive Services for Youth Assisted Units using a Positive Youth Development (PYD) model and trauma-informed care.Grantee shall abide by all additional representations in the Application that qualified the Grantee for funding for Youth Assisted Units [HCD will delete this paragraph if the Project does not include any Youth-serving units.]
3. SCOPE OF WORK
A. Acquisition, Construction and/or Rehabilitation Detail:
[HCD to include a clear description of the development work to be performed based on the Applicant’s submitted Development Plan; identifying the construction activities, rehabilitation activities, and site modifications to be completed.] B. Supportive Services and Staffing Detail:
Grantee shall assure that the Case Manager ratio(s) for this Project will be maintained at [HCD to INSERT ratio from the Application SSP Tab] for the [INSERT Population] for [INSERT number of units]. [Add different ratios, unit counts, and populations or sub-populations as necessary from Application]. [HCD to CHOSE ONE: Grantee will manage the Project OR [coordinate with third-party property manager [INSERT NAME IF IDENTIFIED].
[CHOSE ONE: Grantee will [be Lead Service Provider on the Project] [or] [coordinate with a third-party service provider [INSERT NAME IF IDENTIFIED] to act as Lead Service Provider. Services include those required in NOFA Section 302 (1- 24). [Delete or edit next sentence according to whether the LSP and/or PM name was identified at time of application.] If Lead Service Provider or Property Manager not selected at time of application, Grantee must ensure that they meet the experience requirements of NOFA Section 302 (1.)(a.)(i.).
Name(s) of Grantee(s)
25-HK+-XXXXX
EXHIBIT E
Homekey+ Program
NOFA Date: 11/26/2024, as amended 01/31/2025; 08/07/2025 Project Name:
Approved Date: 09/24/2025
Prep. Date: XX/XX/XXXX
C. GRANTEE CONTRACT COORDINATOR(S)
Authorized Representative Name:
Authorized Representative Title:
Entity Name:
Address:
Telephone No.:
E-Mail Address:
[HCD will replicate table, as appropriate, for additional co-applicants. Ensure the entire table is on one page per each applicant, do not cut off information.]
4. ADDITIONAL CONDITIONS PRECEDENT TO DISBURSEMENT
A. [HCD to enter conditions prior-to-disbursement here or type “None.”]
5. BUDGET DETAIL
A. Grantee represented to the Department the following commitments for the development and construction of the Homekey+ Project:
Development Sources: [Include the Homekey+ capital award. Also list each government, philanthropic, and private funding source by its full legal name, the terms of the source (for example if a loan) and the amount committed. For gap funded projects, include the HCD Program Name, APN, contract number and funded eligible activity (e.g.) Acquisition, Construction, etc. under the HCD Program’s prior award.] [see list below for formatting guidance and delete template text once completed. Discuss how to enter more complex funding sources with your manager.
Obtain dollar figures for the funding sources from the Enforceable Funding Commitments (EFC) and cross-reference the cash flow for funding years and terms] Name(s) of Grantee(s)
25-HK+-XXXXX
EXHIBIT E
Homekey+ Program
NOFA Date: 11/26/2024, as amended 01/31/2025; 08/07/2025 Project Name:
Approved Date: 09/24/2025
Prep. Date: XX/XX/XXXX
1) Homekey+ Award letter dated XXX for a funding commitment of $00.00 for [Specify: acquisition, construction, rehabilitation, Capitalized Operating Subsidy Reserve (COSR), relocation, etc. Please break out the $00.00 relocation amount from the capital amount if there is an award for relocation and include the total of relocation plus capital at the end]. 2) Construction Source Example: [Full name of funding entity] letter dated Month XX, 20XX, for $00.00 of [name funding program source being used] funding to acquire and rehabilitate the property for the construction period. 3) Existing HCD Commitment: Existing HCD Commitment: [Name of Program, Standard Agreement Contract number, award letter date, award letter amount.]
B. Grantee shall maintain the ongoing affordability of the Project by leveraging the following non-Homekey+ sources for operating expenses:
Operating Sources: [HCD to include the Homekey+ operating award. HCD to list each government, philanthropic, and private funding source by its full legal name, the terms of the source (for example if a loan) and the amount committed.]
1) Homekey+ Award letter dated XXX for a funding commitment of $00.00 for operating. [Delete item 1 if there is no HK+ Operating Award.] 2) Committed Permanent Source Example: [Full name of funding entity] letter dated Month XX, 20XX, committing an [operating, rental subsidy, reserves, debt services, supportive services, Capitalized Operating Subsidy Reserve (COSR) etc.] subsidy of
$0.00 per year for Project years XX through XX, for a total funding commitment of $00.00 provided by the [name of funding program source being used]. 3) Intent to Pursue Permanent Source Example: [Full name of funding entity] letter dated Month XX, 20XX, committing an intent to pursue $00.00 for Project years XX through XX in [operating, rental subsidy, reserves, supportive services, etc.] funding by applying to Name(s) of Grantee(s)
25-HK+-XXXXX
EXHIBIT E
Homekey+ Program
NOFA Date: 11/26/2024, as amended 01/31/2025; 08/07/2025 Project Name:
Approved Date: 09/24/2025
Prep. Date: XX/XX/XXXX
and/or utilizing the [name of funding program(s) source(s) or bond measure(s) being pursued].
4) Existing HCD Commitment: [Name of Program, Standard
Agreement Contract number]
C. Master Lease. Grantee shall abide by its obligation and 15-year plan from the recordation of the Affordability Covenant to cover the Project operations and service costs. Grantee shall satisfy this obligation by leveraging the following funding sources:
[HCD to list each government, philanthropic, and private funding source by its full legal name]. [HCD to delete this Master Lease term if it is not applicable to this Project.]
6. PERFORMANCE MILESTONES
[HCD to add, customize, or delete rows as required by the facts of this Project contract and the date on the signed award letter. Milestones are determined using the date calculator here(Insert link) Please delete this instruction before routing this Exhibit E.]
Performance Milestones Milestone Completion Date
Expenditure Deadline for Capital
Funds.
[Link to Date Calculator, use the date
on the award letter, If the date falls on
a weekend, use the next business
day. Delete this instruction after
completing this table]
Month DD, YYYY which includes 60 days
from the date of the Award letter [delete if
no extensions granted] and an XX
day/month extension approved by the
Department.
[If property is an acquisition or rehabilitation
project, then insert the date which is 60
days and fifteen months from the date of
the Award letter]
[If property is a new construction project,
then insert the date which is 60 days and
27 months from the date of the Award
letter]
Name of Grantee(s)
24-HK+-XXXXX
EXHIBIT E
Homekey+ Program
NOFA Date: 11/26/2024, as amended 01/31/2025; 08/07/2025 Project Name:
Approved Date: XX/XX/2025 Prep. Date:
XX/XX/XXXX
Performance Milestones Milestone Completion Date
[Select one and edit into sentence:
Gap Financing; New Construction]
Project must initiate construction.
[Or: Interim to Permanent Gap
Financing] Project must initiate
conversion.
Month XX, XXXX, which includes 60 days
from the date of the Award letter [delete if
no extensions granted] and an XX
day/month extension approved by the
Department.
[Insert date which is 60 days and 6 months
from the date on the Award letter]
Complete construction of the
[select one and edit into sentence:
New Construction, Rehabilitation]
Homekey+ Project must be
achieved.
Month DD, YYYY, which includes 60 days
from the date of the Award letter [delete if
no extensions granted] and an XX
day/month extension approved by the
Department.
[For New Construction and Gap Financing]:
Insert date which is 60 days and 24 months
from the date on the Award letter]
[For Rehabilitation: Insert date which is 60
days and 12 months from the date on the
Award letter]
Name of Grantee(s)
24-HK+-XXXXX
EXHIBIT E
Homekey+ Program
NOFA Date: 11/26/2024, as amended 01/31/2025; 08/07/2025 Project Name:
Approved Date: XX/XX/2025 Prep. Date:
XX/XX/XXXX
Full occupancy by the Target
Population must be accomplished in
accordance with the descriptions
and representations set forth in the
Application.
Month DD, YYYY, which includes 60 days
from the date of the Award letter.
[If Project has Rehabilitation, then insert the
date which is 60 days and 15 months from the
date of the Award letter]
[If New Construction Project, then insert the
date which is 60 days and 27 months from
the date of the Award letter]
[If Acquisition only Project, obtain the
acquisition date from the development plan,
then add the date which is 60 days and 6
months from the date of the Award letter]
[If HCD has approved an extension for
Veteran-serving projects with more than
50% Veterans Units or for large projects
(over 75 units) then insert that date here]
Name of Grantee(s)
24-HK+-XXXXX
EXHIBIT E
Homekey+ Program
NOFA Date: 11/26/2024, as amended 01/31/2025; 08/07/2025 Project Name:
Approved Date: XX/XX/2025
Prep Date: XX/XX/2025
Performance Milestones Milestone Completion Date
[Delete entire row if the Applicant
does NOT have any federal
funding provided in their sources,
note, you may copy/paste
milestones from Full occupancy
edits above]: NEPA Authorization
to Use Grant Funds (AUGF) must
be submitted upon construction
completion.
Month DD, YYYY, which includes 60 days
from the date of the Award letter [delete if
no extensions granted] and an XX
day/month extension approved by the
Department.
[If Project has Rehabilitation, then insert the
date which is 60 days and 12 months from the
date of the Award letter]
[If New Construction Project, then insert the
date which is 60 days and 24 months from
the date of the Award letter]
[If Acquisition only Project, obtain the
acquisition date from the development plan,
then add the date which is 60 days and 6
months from the date of the Award letter]
A complete Supportive Services
Plan must be received by HCD.
Month DD, YYYY [Date is 120 days prior to
full occupancy milestone above]
Grantee must have an approved
Supportive Services Plan by full
occupancy.
Month DD, YYYY
[Insert milestone that matches full
occupancy]
A copy of Grantee’s written
nondiscrimination policy (in
accordance with Exhibit D of this
Agreement) must be submitted to
the Department.
Month DD, YYYY, which includes 60 days
from the date of the Award letter.
[Insert date which is 60 days and 8
months from date of Award]
A copy of the Notice of Exemption
from the California Environmental
Quality Act (CEQA) filed with the
Office of Planning and Research
(OPR) as applicable.
Month DD, YYYY, which includes 60 days
from the date of the Award letter.
[Insert date which is 60 days and 8
months from date of Award]
Name of Grantee(s)
24-HK+-XXXXX
EXHIBIT E
Homekey+ Program
NOFA Date: 11/26/2024, as amended 01/31/2025; 08/07/2025 Project Name:
Approved Date: XX/XX/2025
Prep Date: XX/XX/2025
Performance Milestones Milestone Completion Date
Expenditure Deadline for
Operating Funds.
Month DD, YYYY, which is 10 years from
the date of full occupancy
[Insert date which is ten (10) years from the
date of full occupancy above.]
A Homekey+ Program and Report
must be submitted to the
Department as specified and
described in the NOFA.
March 31 – Each year for five (5) years
following the Effective Date of this
Agreement. The annual report is required
for at least five years following full
occupancy of the Project and until the
Homekey+ operating funds are fully
expended.
A Homekey+ Expenditure Report
must be submitted to the
Department.
July 31 – Each year until the full Homekey+
Award has been fully expended.
7. TERMS AND CONDITIONS
The following Special Terms and Conditions are applicable to this Project and shall control notwithstanding anything to the contrary herein:
A. Affordability Covenant
[INSTRUCTIONS: This Section is for Projects that are NOT Tribal or NOT Master Lease. HCD will delete this specific “Affordability Covenant” paragraph if it a Tribal or Master Lease Project If this paragraph does apply to this Project, HCD will delete the three foregoing “Master Lease” and “Affordability Covenant-Tribal” Sections below.]
1) The state, regional, local, or tribal Grantee shall ensure that the Project is duly encumbered with a 55-year Affordability Covenant that (a) is recorded in first position against the Project for the benefit of the state, regional, local, or tribal Grantee; (b) restricts the use, operation, occupancy, and affordability of the Project in accordance with this Homekey+ Agreement and the applicable Program Requirements in the NOFA; (c) duly names the Department as a third-party beneficiary with the right and privilege, but Name of Grantee(s)
24-HK+-XXXXX
EXHIBIT E
Homekey+ Program
NOFA Date: 11/26/2024, as amended 01/31/2025; 08/07/2025 Project Name:
Approved Date: XX/XX/2025
Prep Date: XX/XX/2025
not the obligation, of enforcement thereof; (d) incorporates the Homekey+ Program Requirements by reference and (e) is otherwise in form and substance acceptable to the Department.
2) The Affordability Covenant must be recorded against the real property of the Project site prior to the disbursement of funds as specified in Exhibit B. The Grantee shall obtain the Department’s express written approval of the Affordability Covenant prior to the recordation of the same. After recordation, the Grantee shall promptly provide the Department with a conformed copy of the recorded Affordability Covenant and a title report to confirm lien priority. 3) All Homekey+ funds must be wired to an escrow company as specified in Exhibit B. The Applicant shall identify the name and address of the escrow company, the name of the escrow officer, the escrow number, and any other information requested by HCD. The appropriate Affordability Covenant must be on file and approved by HCD to be included in the escrow transaction for recordation.
4) The Affordability Covenant must be recorded as a lien against the Project in first position, and must remain in first position, over all other Project agreements, covenants, or other matters of record on the real property for the period of affordability required by the Program.
B. Affordability Covenant – Tribal Trust Land
[HCD will put Non-Applicable this section if the Project is NOT a Tribal Project, if it is a Tribal Project, then HCD will delete the “Affordability Covenant” Section above, as well as the “Master Lease” and “Affordability Covenant-Master Lease” Sections below.]
1) The tribal Grantee shall ensure that the Project is duly encumbered with a 50- year Affordability Covenant that (a) is recorded in first position against the Project for the benefit of the tribal Grantee; (b) restricts the use, operation, occupancy, and affordability of the Project in accordance with this Agreement and the applicable Program Requirements; (c) duly names the Department as a third-party beneficiary with the right and privilege, but not the obligation, of enforcement thereof; (d) incorporates the Homekey+ Program Requirements by reference, and (e) is otherwise in form and substance acceptable to the Department.
Name of Grantee(s)
24-HK+-XXXXX
EXHIBIT E
Homekey+ Program
NOFA Date: 11/26/2024, as amended 01/31/2025; 08/07/2025 Project Name:
Approved Date: XX/XX/2025
Prep Date: XX/XX/2025
2) The Affordability Covenant must be recorded against the real property of the Project site. The Affordability Covenant shall be recorded against the estate in land (fee estate or leasehold estate) as indicated by the site control specified in the Project’s Homekey+ application and no changes shall be considered or permitted. Any permitted recordation of the Affordability Covenant against a leasehold estate shall comply Uniform Multifamily Regulations section 8316. The Grantee shall obtain the Department’s express written approval of the Affordability Covenant prior to the recordation of the same. After recordation, the Grantee shall promptly provide the Department with a conformed copy of the recorded Affordability Covenant and a title report to confirm lien priority.
3) The Affordability Covenant must be recorded as a lien against the Project in first position, and must remain in first position, over all other Project agreements, covenants, or other matters of record on the real property for the period of affordability required by the Program.
C. Master Lease
[Payee/Designated Payee] shall apply the funds towards a lump sum pre- payment of all lease payment obligations for the Project calculated over the Project’s full Homekey+ term of affordability and reduced to net present value (NPV). [Please delete this paragraph if the Project is not a master lease.] D. Affordability Covenant- Master Lease
[HCD will determine if Project is a master lease use, if it is, HCD will keep the above paragraph “Master Lease” and this section and delete the “Affordability Covenant” and “Tribal” Sections above the Master Lease Sections.] 1) The state, regional, local, or tribal Grantee shall ensure that the Project is duly encumbered with a 55-year Affordability Covenant that (a) is recorded in first position against Project real property for the benefit of the state, regional, local, or Tribal Grantee; (b) imposes use, operation, occupancy, and affordability restrictions on the real property and improvements; and (c) duly names HCD as a third-party beneficiary with the right and privilege, but not the obligation, of enforcement thereof, (d) incorporates the Homekey+ Program Requirements by reference, and (e) is otherwise in form and substance acceptable to HCD
Name of Grantee(s)
24-HK+-XXXXX
EXHIBIT E
Homekey+ Program
NOFA Date: 11/26/2024, as amended 01/31/2025; 08/07/2025 Project Name:
Approved Date: XX/XX/2025
Prep Date: XX/XX/2025
2) The Affordability Covenant must be recorded against the real property of the Project site prior to the disbursement of funds. The Grantee shall obtain the Department’s express written approval of the Affordability Covenant prior to the recordation of the same. After recordation, the Grantee shall promptly provide the Department with a conformed copy of the recorded Affordability Covenant and a title report to confirm lien priority.
3) All Homekey+ funds must be wired to an escrow company. The Applicant shall identify the name and address of the Escrow Company, the name of the Escrow officer, the escrow number, and any other information requested by HCD. The appropriate Affordability Covenant must be on file and approved by HCD to be included in the escrow transaction for recordation.
4) The Affordability Covenant must be recorded as a lien against the Project in first position, and must remain in first position, over all other Project agreements, covenants, or other matters of record on the real property for the period of affordability required by the Program.
8. Project-Specific Special Terms and Conditions
A. Application Scoring Terms and Conditions
1) [HCD will include this paragraph if Grantee scored at least 10 points on Scoring for this NOFA Section] Grantee application was prioritized for receiving at least 10 points per NOFA Section 305, Application Scoring Criteria, (3)(a), for sustained operating leverage evidenced by Project rental or operating subsidies.
Grantee has committed to non-Homekey+ rental or operating subsidies (including funded services) to maintain the ongoing affordability and sustainability of Project operations that are outlined in Section 6, Budget Detail. Any budget modifications must be submitted to HCD for approval and must address how the Project affordability and sustainability will be maintained.
2) Grantee received 10 points by committing to Mental Health Services Act or Behavioral Health Services Act funds as evidenced by a letter as per NOFA Section 305, Application Scoring Criteria, (3)(c). Any budget modifications must be submitted to HCD for approval. [HCD will delete this Name of Grantee(s)
24-HK+-XXXXX
EXHIBIT E
Homekey+ Program
NOFA Date: 11/26/2024, as amended 01/31/2025; 08/07/2025 Project Name:
Approved Date: XX/XX/2025
Prep Date: XX/XX/2025
paragraph if Grantee did not score 10 points Scoring for this NOFA Section 3) Grantee received 10 points for committing that at least 25 percent of the Assisted Units in the Project are two-bedroom or larger units as per NOFA Section 305, Application Scoring Criteria (5)(a). [HCD may delete this paragraph, as required by the facts of this Project].
4) Grantee has committed to a 55-year use restriction for the Project and has waived any potential accommodation by the Department to increase income limits, as per NOFA Section 305, Application Scoring Criteria, (5)(b), for [at least 25 percent of the Assisted Units] [or] [at least 50 percent of the Assisted Units] [or] [at least 75 percent of the Assisted Units] [or] [100 percent of the Assisted Units]. HCD may delete this paragraph, or any portion of this paragraph, as required by the scoring awarded to this NOFA Section.] .] 5) Grantee has committed to the following accessibility details for the Project, as per NOFA Section 305, Application Scoring Criteria, (5)(c), the Project will exceed the state and federal accessibility requirements set forth in the NOFA. [At least 15 percent of the Project’s Assisted Units must have features accessible to persons with mobility disabilities [or] [and] at least 10 percent of the Project’s units must have features accessible to persons with hearing or vision disabilities. [HCD will delete this paragraph, or any portion of this paragraph, as determined by the points awarded in this NOFA Section.] 6) Grantee has committed to provide high speed internet service, as per NOFA Section 305, Application Scoring Criteria, (6)(g), with a minimum average speed of 25 megabits/second must be made available to each Unit for a minimum of 15 years, free of charge to the tenants, and available within six months of the Project’s placed-in-service date. [HCD will delete this paragraph if the Applicant did not receive any score in the threshold and scoring checklist for high-speed internet service.] Name of Grantee(s)
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EXHIBIT E
Homekey+ Program
NOFA Date: 11/26/2024, as amended 01/31/2025; 08/07/2025 Project Name:
Approved Date: XX/XX/2025
Prep Date: XX/XX/2025
B. New Construction Cost Containment Terms and Conditions [HCD will delete this section if this is NOT a new construction cost containment Project (NOFA Section 501).]
Per NOFA Section 501, the Department will disburse up to 80% of the Capital Award after Grantee has cleared all conditions of disbursement. The remaining 20% of the Award will be disbursed upon submission of the temporary certificate of occupancy (TCO).
Grantee commits to a Total Development Cost of $XXX,XXX per unit [HCD will insert total development cost per unit from Project Report and Application Development Budget total cost.].
C. Gap Financing Project Terms and Conditions
[HCD will delete if this section if this is not a gap-funded Project, edit otherwise as needed with your manager.]
D. Tribal Project Terms and Conditions
[For Tribal Projects: If the Project is subject to AB 1010, HCD will indicate that here, and describe any waivers and modifications of the Program Requirements, or delete this text otherwise.]
E. Supportive Services Plan Terms and Conditions
HCD may request necessary updates to the Supportive Services plan or related documents, including fully executed written agreements. All updates must be approved prior to occupancy as determined by the milestones listed in this Standard Agreement.
[HCD will delete this paragraph if the SSP was approved by the time of SA routing to LAD]
Name of Grantee(s)
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EXHIBIT E
Homekey+ Program
NOFA Date: 11/26/2024, as amended 01/31/2025; 08/07/2025 Project Name:
Approved Date: XX/XX/2025
Prep Date: XX/XX/2025
F. Environmental Terms and Conditions
1) [HCD will delete if there are NO environmental report conditions to add or if the condition was cleared prior to routing to LAD].
G. Site Control Terms and Conditions
1) HCD to edit example as necessary and delete instructions when done, and must include this term in every Agreement copy: Grantee demonstrated site control by providing evidence of [Select: fee title or leasehold interest or development agreement or sales contract or letter of intent or other (describe).] at the time of Application.
2) [Add other site control terms and conditions here or delete if none.] H. Miscellaneous Terms and Conditions
[HDC may enter special terms or conditions here from the Project Report that are NOT satisfied and documented by the time of SA Routing to LAD. If no special conditions apply, this will be removed. Do not include special condition that are due prior to disbursement here, these are entered in section 4 Additional Conditions Precedent to Disbursement above.] HCD to edit example language as needed: Prior to [insert milestone such as disbursement, or number of days before a milestone such as standard agreement, or occupancy, etc.] Grantee shall [HCD to insert requirement and required documentation to satisfy the condition.]
9. Project Development Budget: (Please see the next page for the development sources and uses budget from the application that was approved by HCD’s Awards Committee.) Budget detail included for the purpose of showing the Homekey+ Award details, including project reserves and developer fee. Other budget sources and uses will not be monitored by HCD.
Name of Grantee(s)
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EXHIBIT E
Homekey+ Program
NOFA Date: 11/26/2024, as amended 01/31/2025; 08/07/2025 Project Name:
Approved Date: XX/XX/2025
Prep Date: XX/XX/2025
Homekey Approved Development Sources & Uses Budget
(SAMPLE ONLY- HCD to Copy/Paste actual Project Budget S&U Tab Columns A through I below from the Application. Sources names must be complete and deferred developer fee columns may be deleted if they are not a source of income.)
Name of Grantee(s)
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EXHIBIT E
Homekey+ Program
NOFA Date: 11/26/2024, as amended 01/31/2025; 08/07/2025 Project Name:
Approved Date: XX/XX/2025 Prep. Date:
XX/XX/XXXX
Name of Grantee(s)
24-HK+-XXXXX
EXHIBIT E
Homekey+ Program
NOFA Date: 11/26/2024, as amended 01/31/2025; 08/07/2025 Project Name:
Approved Date: 09/XX/2025 Prep. Date:
XX/XX/XXXX
Name of Grantee(s)
24-HK+-XXXXX
EXHIBIT E
Homekey+ Program
NOFA Date: 11/26/2024, as amended 01/31/2025; 08/07/2025 Project Name:
Approved Date: 09/XX/2025 Prep. Date:
XX/XX/XXXX
Name of Grantee(s)
24-HK+-XXXXX
EXHIBIT E
Homekey+ Program
NOFA Date: 11/26/2024, as amended 01/31/2025; 08/07/2025 Project Name:
Approved Date: 09/XX/2025 Prep. Date:
XX/XX/XXXX