Financial Assistance Program Directory - California Department of ...
Financial Assistance Program Directory - California Department of ...
Financial Assistance Program Directory - California Department of ...
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Transit-Oriented Development Housing <strong>Program</strong> (TOD)<br />
Purpose<br />
Provides funding to stimulate production <strong>of</strong> higher density housing and<br />
related infrastructure close to qualifying transit stations, that encourages<br />
public transit ridership and minimizes automobile trips.<br />
<strong>Assistance</strong><br />
Type<br />
Terms<br />
Loans and grants.<br />
Loans for rental housing development and land acquisition for proposed<br />
housing development. Grants for infrastructure that supports housing<br />
or facilitates access to transit from one or more specific housing<br />
developments. Mortgage assistance for first-time low or moderate<br />
income homebuyers.<br />
All eligible projects must be within ¼ mile <strong>of</strong> a qualifying transit station,<br />
be at least 50 units in size, and include at least 15% <strong>of</strong> total residential<br />
units as restricted units for at least 55 years.<br />
Maximum loan, grant or combination <strong>of</strong> the two for a single development<br />
is $17 million. Maximum assistance for applications based on a single<br />
qualifying transit station is $50 million over the life <strong>of</strong> the program.<br />
Eligible<br />
Activities<br />
Eligible<br />
Applicants<br />
Application<br />
Procedure<br />
New construction or substantial rehabilitation <strong>of</strong> rental housing,<br />
conversion <strong>of</strong> nonresidential structures to residential, and first-time<br />
homebuyer mortgage assistance for units in qualified projects; capital<br />
improvements required for a qualified housing or mixed-use project, such<br />
as sewer or water upgrades, streets, drainage, parking, noise mitigation,<br />
and utility access, connection or relocation; capital improvements to<br />
enhance pedestrian or bicycle access from a qualified project to the<br />
nearest transit station, such as walkways, plazas, miniparks, signals,<br />
streetscape improvements, security enhancements, bicycle lanes and<br />
transportation information systems.<br />
Cities, counties, cities and counties, transit agencies, redevelopment<br />
agencies and private developers.<br />
Applications will be invited through the issuance <strong>of</strong> Notices <strong>of</strong> Funding<br />
Availability (NOFAs).<br />
Contact<br />
(916) 324-1555 or TOD@hcd.ca.gov; www.hcd.ca.gov/fa/tod<br />
<strong>Financial</strong> <strong>Assistance</strong> <strong>Program</strong> <strong>Directory</strong> 40<br />
Division <strong>of</strong> <strong>Financial</strong> <strong>Assistance</strong>
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