3D Public Hearing 2012 0416 - Laserfiche WebLink

Home

homelessness. Funding through the Governor's Homeless Initiative assists with the development of permanent supportive housing for persons with severe mental illness who are chronically homeless. This is a joint project of HCD, the California Housing Finance Agency (CalHFA), and the Department of Mental Health (DMH) funded by Proposition 46 funds. The Governor's Initiative provides various types of assistance: deferred payment permanent loans under HCD's MHP; construction, bridge and permanent loans from CalHFA; and limited grant funds for rental assistance from DMH. Mental Health Services Act (MHSA) The Mental Health Services Act (MHSA), passed in November 2004, provides an opportunity for the Department of Mental Health (DMH) to increase funding, personnel, and other resources to support county mental health programs and monitor progress toward statewide goals for children, transition age youth, adults, older adults, and families. The Act addresses a broad continuum of prevention, early intervention, and service needs. DMH contracts with county mental health departments [e.g., the Alameda County Behavioral Health Care Services Department (BHCS)] to develop and manage the implementation of MHSA's provisions. BHCS has been awarding contracts for implementation of services since FY 2006 -07. Low - Income Housing Tax Credits (State) State low- income housing tax credits may be awarded when applicable in conjunction with federal low- income housing tax credits to eligible affordable rental housing developments. State low- income housing tax credits provide less equity funding than federal tax credits but still serve as vital financing for affordable rental housing. California Housing Finance Agency (CalIVA) While CalIVA's multi - family programs are temporarily suspended, CalHFA still offers first - time homebuyer assistance programs that provide first mortgage loans, down payment, and /or closing costs to eligible homebuyers. Mortgage Revenue Bonds Under the Internal Revenue Code, the City can become an issuer of mortgage revenue bonds for the purpose of funding affordable housing development. Under the regulations, at least 20% of the units must be affordable to families at or below 50% of the area median family income (AMI) or 40% of the units affordable to families at or below 60% of the AML However, the City can negotiate any amount allowed for rent levels that would be restricted in exchange for issuing the tax - exempt bonds. Mortgage Credit Certificates Alameda County serves as the lead agency for allocation of Mortgage Credit Certificates (MCC), which provide a tax credit to subsidize the mortgage interest rate for qualified first -time homebuyers. The County receives MCC funding through State bonds. LOCAL Redevelopment Housing Set -Aside Funds Historically, the Redevelopment Agency of the City of San Leandro (Agency) sets aside 20% of its tax increment revenue to provide affordable housing for low- and moderate - income households. However, the Agency (along with all other redevelopment agencies state -wide) was eliminated on February 1, 2012 as required by California State Legislation AB lx 26, which the Final Action Plan — FY 2012 -2013 City ofSan Leandro Page 6