City of San Jose Opens Applications for Strategic Funding to Strengthen Affordable Housing Efforts
Eligible organizations can now apply for city funding to build housing for vulnerable populations
FOR IMMEDIATE RELEASE
October 11, 2023
Media Contact:
Tasha Dean, Chief Communications Officer, Office of Mayor Matt Mahan, [email protected]
SAN JOSÉ, CA - Today, San José Mayor Matt Mahan and the City’s Housing Department unveiled a new $50 million Notice of Funding Availability (NOFA). These dollars are distributed on a competitive basis for qualifying organizations to create affordable housing, support anti-displacement efforts, provide services to vulnerable residents, and serve other community needs.
“We have an opportunity to invest these $50 million dollars to help those struggling on our streets and those struggling to make ends meet put a roof over their head,” said San José Mayor Matt Mahan. “I look forward to ensuring we are doing so in a cost-effective way that makes progress on our acute housing shortage, which has impacted our most vulnerable communities the most."
The NOFA is focused on projects in specified "Continued Investment Areas" and "Affordable Housing Expansion Areas" per the City's Affordable Housing Siting Policy. The funding will go toward the construction of housing for extremely low-, very low-, and low-income individuals and families. Approximately 40% of the funding will be prioritized for extremely low-income housing – households making under 30% of the area median income.
“Building new affordable housing is critical for reducing displacement and helping to ensure all San Joseans have safe, dignified places to call home,” said Rosalynn Hughey, Deputy City Manager and Acting Director of the Housing Department. “And by aligning new construction with our affordable housing siting policy, we can make every neighborhood and every community in our City more accessible to everyone.”
Applications for the NOFA will be scored on project readiness, multiple sources of funding to ensure long-term feasibility, cost effectiveness, and the availability of both supportive and family housing. Projects that include childcare and disability accommodations will receive higher marks. Organizations have until November 29, 2023 to apply for the funding and must be ready to apply to the California Tax Credit Allocation Committee (CTCAC) and the California Debt Limit Allocation Committee (CDLAC) for a round within two years of the application. Qualifying organizations will receive their awarded dollars in January of 2024.
The application for the NOFA is now live and affordable housing developers may apply here.
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About the City of San José
With nearly one million residents, San José is the largest city in the Bay Area and one of the nation's most diverse and creative. San José’s transformation into a global innovation center in the heart of Silicon Valley has resulted in the world's greatest concentration of technology talent and development.