Strategic Growth Plan, Bond Accountability

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Overview

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Proposition 1C is the $2.85 billion affordable housing bond component of the Strategic Growth Plan.

Proposition 1C invests $2.85 billion for housing and infrastructure programs to produce an estimated 118,000 housing units, 2,350 homeless shelter spaces, and infrastructure projects that help infill housing development such as water, sewer, parks, and transportation improvements. Details
 
 
Housing and Community Development (HCD) and
California Housing Finance Agency (CalHFA)
The Housing and Emergency Shelter Trust Fund Act of 2006 (Proposition 1C)
Schedule of Funds Committed as of February 2008
 
Department
Programs
Total Available
*Committed
Available
  Homeownership Programs      
HCD CalHome  
$290,000,000
 $63,845,575 $226,154,425
HCD BEGIN Program 
$125,000,000
 $17,040,000 $107,960,000
HCD CalHome Self-Help Housing Program 
$10,000,000
 $0 $10,000,000
CalHFA California Homebuyers Downpayment Assistance Program  
$100,000,000
 $35,253,398 $64,746,602
CalHFA Residential Development Loan Program 
$100,000,000
 $0 $100,000,000
HCD Affordable Housing Innovation 
$100,000,000
 $0 $100,000,000
         
  Multifamily Rental Housing Programs      
HCD Multifamily Housing Program 
$345,000,000
 $142,155,387 $202,844,613
HCD Multifamily Housing - Supportive  
$195,000,000
 $33,116,176 $161,883,824
HCD Homeless Youth Housing 
$50,000,000
 $1,357,173 $48,642,827
         
  Other Programs      
HCD Serna Farmworker  
$135,000,000
 $29,004,300 $105,995,700
HCD Emergency Housing Assistance 
$50,000,000
 $0 $50,000,000
HCD Infill Infrastructure Grant Program 
$850,000,000
 $0 $850,000,000
HCD Transit Oriented Development 
$300,000,000
 $0 $300,000,000
HCD Housing - Related Parks Program 
$200,000,000
 $0 $200,000,000
         
  ** Statewide Costs 
 
$57,000,000 -$57,000,000
  *** Administrative Costs 
 
$134,038,000 -$134,038,000
  Grand Total
$2,850,000,000
 $512,810,009 $2,337,189,991
         
         
* Funding has been awarded but may not have been disbursed. Legislative appropriation may be somewhat higher.
** Estimated costs charged by agencies other than the administering department, such as State Treasurer's Office and State Controller's Office, over the entire life of the bonds. These amounts are held in reserve to ensure their availability.
*** Estimated costs incurred by HCD and CalHFA over the entire life of the bonds to provide the support to the bond programs that are expended from bond proceeds over the entire life of the bonds. These amounts are held in reserve to ensure their availability.
 
Front-end Accountability Criteria Details