For more information, please contact Scott Carper at [email protected], or visit www.calcha.org CalCHA’s Essential Housing Program
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roviding sustainable housing opportunities for California’s essential middle-income workforce C
alifornia’s essential workforce (nurses, teachers, first responders and civil servants, among others) generally earns in excess of traditional affordable housing income limits yet not enough to sustainably reside within the communities they serve. The res ulting dislocation and “drive until you qualify” commuting patterns result in traffic, congestion, pollution, social isolation, academic underperformance and negative health outcomes.
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he California Community Housing Agency (CalCHA) was formed in 2019 to squarely address this growing crisis. As the State’s first public agency focused exclusively on the production, preservation and protection of middle-income housing, our Essential Housing model has already created >4,000 affordable rent-restricted rental units throughout the State and has spurred the creation of additional State agencies hoping to leverage similar models to further California’s middle-income housing needs.
Program Mechanics
• Cities, counties and housing authorities become members of CalCHA • CalCHA seeks Essential Housing opportunities within member municipalities • CalCHA issues governmental revenue bonds and uses proceeds to construct or acquire properties • CalCHA assets are rent restricted to low-income and moderate-income households • CalCHA assets become exempt from property taxation
• CalCHA grants all financial upside to the underlying member jurisdiction at its direction Public Benefit Creation
In addition to being granted the financial upside of its assets, CalCHA members benefit from the immediate production of essential middle-income housing. Other programs benefits include:
• Non-displacement of existing tenants
• Up to 4% cap on annual rent increases
• No investment, cost or liability created for member jurisdictions • No use of tax credits, private activity bonds or other scarce affordable housing subsidies/resources Municipality Participation
Participation in CalCHA’s Essential Housing Program begins with the adoption of a single resolution granting:
• CalCHA Membership (no cost, no liability)
• Authorizing CalCHA to issue bonds locally (no cost, no liability) • Granting of financial upside (project-specific Public Benefit Agreements) California Community Housing Agency
CalCHA is a California joint powers authority and political subdivision of the State, specifically founded to provide, preserve and protect middle-income affordable housing projects throughout California. CalCHA’s program administrators maintain more than 30 years of related experience in bond issuance for affordable housing.