CalHFA Offers $10M to Local Gov't Agencies

The California Housing Finance Agency has announced that its Housing Enabled by Local Partnerships program is now accepting applications from local government agencies seeking funding for affordable housing projects.The HELP program is offering another $10 million -- it operates in semiannual funding cycles of $10 million each -- in low-interest loans to California cities, counties, housing authorities, redevelopment agencies, and community development commissions to acquire, develop, rehabilitate, or preserve affordable rental or ownership housing. The agency said it uses a competitive process to award 10-year loans at a 3% interest rate. CalHFA, the state's affordable housing bank, can be found online at http://www.calhfa.ca.gov.