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4. Housing Trust Fund (In -Lieu Fees): This account was established to place the in <br />lieu fees that are provided under the Inclusionary Zoning Ordinance adopted by the City <br />Council in 2004. <br />5. In addition, grant or loan programs are available from other sources for affordable <br />or workforce housing programs. <br />B. The following State of California programs provide funding for housing: <br />1. Multi - family Housing Program: The Department of Housing and Community <br />Development (HCD) provides long -term loans for multifamily housing construction. <br />Nonprofit agencies can apply for the funding which is competitive process <br />2. CalHome Program: HCD's CalHome Program provides funding for new <br />construction, home ownership programs, owner - occupied housing rehabilitation and <br />mortgage assistance. Jurisdictions or nonprofits can apply for grants or loans in a <br />competitive process. <br />3. HELP Loan: California Housing Finance Authority provides up to $2,000,000 to <br />jurisdictions for any type of housing programs from home ownership to housing <br />construction. The low- interest loans are provided in a competitive process. [The State has <br />temporarily suspended this program]. <br />4. The Mortgage Credit Certificates (MCC), administered by the State and locally, <br />operates through the federal income tax system by reducing the cost of home ownership <br />with a federal income tax credit of up to 20% to first -time home buyers meeting specified <br />income criteria. San Leandro residents can receive this assistance through the Alameda <br />County MCC Program. The Agency pays the administrative cost of issuing the MCC. <br />5. The California Tax Credit Allocation Committee administers the federal and state <br />Low - Income Housing Tax Credit ( LIHTC) Programs which were created to encourage <br />private investment in affordable rental housing. The LIHTC operates through the federal <br />income tax system by providing tax credits over a 10 -year period to those who invest in <br />qualifying low- income housing developments. It has been used extensively by nonprofit <br />and for profit developers to help finance projects. <br />C. HUD also provides housing funding. Some of the programs are listed below: <br />1. Section 202 Program provides funds for new construction and rehabilitation of <br />housing for the very low- income elderly. It is a competitive program open to private <br />nonprofit groups and consumer cooperatives. <br />2. Section 811 offers capital advances and advance commitments of Section 8 rental <br />assistance to encourage new construction and rehabilitation of various types of housing <br />for the adult handicapped. Section 811 awards are competitive with only non - profit <br />organizations and consumer cooperatives eligible for capital advances. <br />San Leandro Redevelopment Agency <br />2010 -2014 Implementation Plan <br />Page 29 <br />