2023 CALIFORNIA DEPARTMENT OF HOUSING AND
COMMUNITY DEVELOPMENT LOCAL HOUSING TRUST
FUND APPLICATION
Rod Powell, Planning Manager
Community Development Department
April 25, 2023
LHTF Program Background
• HCD NOFA
o $53 million
o Veterans and Affordable Housing
Bond Act of 2018 ( Senate Bill 3)
o Support new and existing Local
Housing Trust Funds
o Dollar for dollar match
LHTF Eligible Projects and Activities
• New affordable ownership and rental
housing
• Housing acquisition and/or
rehabilitation
• First-time homebuyer assistance
• Property acquisition for the purpose of
housing development
• Accessory dwelling units with
affordability covenants
• Housing rights education
• Tenant assistance for temporary
housing
Discussion
• Salinas Local Housing Trust Fund (SLHTF)
o Fund and finance the planning and
construction of affordable housing
o City wide projects
• Board of Directors = Salinas City Council
o Responsible for overseeing the activities of
the SLHT and administration of the SLHT
Fund (SLHTF)
Discussion
• Proposed Activities
oAffordable
Multifamily Rental
Housing
o Predevelopment
o Development
o Acquisition
o Rehabilitation
oPreservation
Discussion
• Income
Thresholds
o extremely
low
o very low
o Low
o Moderate
SLHTF Matching Fund Break Down
Proposed Local Housing Trust Fund Match Assets
Funds: Allocation Amount
General Funds - Housing Production Fund (CIP 9021) $ 500,000 General Funds – Measure E $ 500,000
Owned Property Valuations:
921 E. Market Street TBD
appraisals in-progress, estimated to be
+/- $550,000 - $650,000
115 Division Street
123 Division Street
137 Division Street
145 Division Street
Easement on Division Street
151 Division Street
37-39 Soledad Street $140,000
34-38 Soledad Street $300,000
Administrative Costs
Permanent Local Housing Allocation (PLHA) TBD (Estimated to be $100,000) Total Local Matching Funds TBD +/- $2,250,000
LHTF Program Application Timeline
NOFA
released by
HCD March
7, 2023
NOFA
Application
Released
April 6, 2023
Online portal
for application
submission
opens April 19,
2023
City
Council
consideratio
n of City of
Salinas
LHTF
Program
May 2,
2023
Internal
transfer of local
match funds to
new LHTF
account May 2-
5, 2023
Application
due May 17,
2023
Award
announcement
August 2023
Recommendation
The Housing and Land Use Committee supports:
Establishment of the Salinas Local Housing Trust Fund (SLHTF) Fund the SLHTF with Housing Production Fund CIP #9021 , Measure E Funds, and commitment of 9 City-owned properties
Submit a Local Housing Trust Fund Application to HCD
Questions & Comments