Is this the news that confirms the suspicions and concerns of many that there was every intention of Newsom changing the upscale and special culture of this little enclave of LA? Whatever was really “affordable” and “rental”ly about the Palisades? TPT Staff
California Gov. Gavin Newsom (D) announced $101 million in new funding designated to help rebuild multifamily rental affordable housing in areas of Los Angeles that were destroyed by the wildfires that ravaged the region earlier this year.
The California Department of Housing and Community Development (HCD) is releasing the funding through an existing program with the goal of “expediting and expanding opportunities to build affordable housing for low-income residents,” according to Tomiquia Moss, secretary of the California Business, Consumer Services and Housing Agency.
“Los Angeles has taken significant steps to rebuild after January’s fires, but the devastation is significant and there remains a long road ahead. Thousands of families – from Pacific Palisades to Altadena to Malibu – are still displaced and we owe it to them to help,” Newsom said in a statement Tuesday.
“The funding we’re announcing today will accelerate the development of affordable multifamily rental housing so that those rebuilding their lives after this tragedy have access to a safe, affordable place to come home to,” he added.
Affordable housing developers can use a single application to apply to multiple funding programs through the HCD’s Multifamily Finance Super NOFA (MFSN).
The HCD previously announced a $382 million MFSN for affordable multifamily rental housing throughout the state, and a separate $50 million designated for a tribal MFSN. The latest “MFSN-LA Disaster NOFA,” announced Tuesday, is dedicated to LA fire recovery.
The HCD press release stated it would prioritize applications for projects located near wildfire burn areas, ready to begin construction immediately, and include a resident preference for households displaced by the Los Angeles County wildfires.