Proposed 2022 Affordable Housing Managed Pipeline Program Regulations
The Los Angeles Housing Department (LAHD) is pleased to announce
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September 21st, 2021 | Highlights|
Financing
Primary Funding Sources: the City of Los Angeles issued tax-exempt bonds in the amount of $14,676,000, and other funding sources include Proposition HHH loan ($10,505,254), State of California’s No Place Like Home program loan ($5,058,085), and Low Income Housing Tax Credits ($12,177,311). Zions Bancorporation, N.A., dba California Bank & Trust, is providing the construction loan financing.
Congratulations to the dedicated #PropHHH Unit at LAHD for putting this housing development through the next phase – construction!
About Prop HHH
In November 2016, the voters of Los Angeles overwhelmingly voted in favor of Proposition HHH (Prop HHH, HHH), which provides funds for the development of supportive housing for homeless individuals and families throughout the city. The Prop HHH Supportive Housing Loan Program development proposals use both traditional and innovative financing and construction techniques on this particular type of housing. The program provides an average HHH loan commitment of $140,000 per unit (apartment); developers must combine HHH loans with other financial resources to pay for the total development costs. The dashboard below shows the progress made, the different stages of the housing development, the location, and financing details for each each housing development awarded HHH loans. For more information on HHH, visit: housing.lacity.org/housing/supportive-housing-prop-hhh.
Last modified: September 21, 2021
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