Senator Patricia Bates (R-Laguna Niguel) thanked the California Department of Housing and Community Development (HCD) today for awarding a $4.2 million Local Housing Trust Fund grant to the Orange County Housing Finance Trust (OCHFT) to create new affordable housing units.
“I thank the Department of Housing and Community Development for awarding vital funding to Orange County to help reduce homelessness,” said Senator Bates, the Vice Chair of the Senate Housing Committee. “With the state and local governments working together with the private sector, I hope we can continue to make progress to build needed housing. I will continue to make sure our region receives its share of funding from state programs.”
Senator Bates co-authored Assembly Bill 448 in 2018 with bipartisan members of the Orange County legislative delegation that created the OCHFT. AB 448 allows Orange County cities, the county, local businesses, and philanthropists to pool their resources into the trust and leverage local dollars for increased state funding. The combined resources fund housing for the homeless and persons with very limited means.
OCHFT will use funding to help finance the development of seven affordable and permanent supportive housing developments totaling 467 units throughout Orange County. The projects will receive these funds in the form of a project loan from OCHFT.
The Local Housing Trust Fund provides matching funds to local and regional housing trust funds dedicated to the creation, rehabilitation, or preservation of affordable housing, transitional housing, and emergency shelters. For more information, click here.