Affordable housing projects can apply for city funding at new portal

As the next step in planning for the City’s Affordable Housing Trust Fund, the Office of Innovation & Economic Development has launched a portal to receive affordable housing development applications for funding and other City-dedicated resources.

The deadline to apply is April 3 by 4 p.m.

Applications will be reviewed using the City Council’s adopted Affordable Housing Trust Fund Framework, approved at the January 28, 2020 City Council Meeting.

With the Framework, the City Council unanimously agreed to take steps to dedicate city resources towards affordable housing development in the city of Sacramento, including priority allocations for extremely low, very low, and low/median income housing, and the provision of efficiency housing units that are built with less than $100,000 in total government subsidy.

The fund would be created by the issuing $100 million in bonds over two years. They would be paid back by revenue from Measure U.

Eligible projects may include new construction and adaptive reuse of existing properties.

The formerly vacant Bel-Vue hotel was recently renovated into affordable housing.