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Find similar grantsHomeless Youth Multifamily Housing Program (HYMHP) is sponsored by California Department of Housing & Community Development (HCD). This program provides low-interest loans to developers of affordable rental housing that contain units for homeless youth.
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Homeless Youth Multifamily Housing Program (HYMHP) | California Department of Housing and Community Development Homeless Youth Multifamily Housing Program (HYMHP) To provide low-interest loans to developers of affordable rental housing that contain units for homeless youth (HY). Loans have a 55-year term at three percent annual simple interest. For the first 30 years, annual payments of 0.
42 percent of the outstanding principal balance are required. The annual payment for the next 25 years will be set by HCD in year 30, at the minimum amount necessary to cover HCD monitoring costs. Unpaid principal and interest will be due at the end of the loan term.
Eligible costs include project development capital costs, including facilities for child care, after-school care, and social services integrally linked to the restricted housing units. Capital costs may include real property acquisition, refinancing to retain affordable rents, necessary on-site and off-site improvements, reasonable fees and consulting costs, and capitalized reserves.
Funds may be used for permanent multifamily rental and transitional housing projects involving new construction, rehabilitation, acquisition and rehabilitation, or conversion of nonresidential structures. Projects must contain five or more HY units with associated supportive services. Target population and eligible household requirements apply at initial occupancy only.
HY are either emancipated minors, or those who are at least 18 years old, homeless or at risk of homelessness, no longer eligible for foster care on the basis of age, or who have run away from home. Google™ Translate Disclaimer The California Housing and Community Development website uses Google™ Translate to provide automatic translation of its web pages.
This translation application tool is provided for purposes of information and convenience only. Google™ Translate is a free third-party service, which is not controlled by the California Housing and Community Development.
The California Housing and Community Development is unable to guarantee the accuracy of any translation provided by Google™ Translate and is therefore not liable for any inaccurate information or changes in the formatting of the pages resulting from the use of the translation application tool.
The web pages currently in English on the California Housing and Community Development website are the official and accurate source for the program information and services the California Housing and Community Development provides. Any discrepancies or differences created in the translation are not binding and have no legal effect for compliance or enforcement purposes.
If any questions arise related to the information contained in the translated website, please refer to the English version. The following pages provided on the California Housing and Community Development website cannot be translated using Google™ Translate:
According to the current listing, eligibility includes: Developers of affordable rental housing are eligible. Confirm the full requirements in the official notice before applying.
Homeless Youth Multifamily Housing Program (HYMHP) is funded by California Department of Housing & Community Development (HCD). Verify program details on the funder's official page before applying.
Start from the official opportunity page linked in this listing — it carries the sponsor's submission instructions.
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