Learning from the Rudy Bruner Award for Urban Excellence 1987-1993 . The purpose of HOPE II is to provide grants to eligible applicant organizations to develop programs under which eligible people will purchase units in multifamily housing projects owned, financed, or insured by HUD or other federal, state or local public agencies. The CDBG Entitlement Grant program supplies funds to cities and urban counties to support the development of viable urban communities, by providing decent housing and a suitable living environment and expanding economic opportunities, principally for persons of low and moderate income. The School Fees Rental Assistance Program provides reimbursement of school facility fees paid pursuant to Prop 1A by the sponsors or developers of rental housing developments who agree to restrict rents and occupancy of a portion of the units to very-low income households for a period of 55 years. The rental housing development must be located within California.
Priority is given to projects targeting lowest area median incomes.
The goal of the LMSA program is to minimize defaults on HUD-insured multifamily rental projects by ensuring a reliable income stream. It may be used in conjunction with the Flexible Subsidy program. LMSA is a subprogram of the Section 8 Housing Assistance Payments program, which is a rent subsidy program that helps eligible low-income families obtain decent, safe and sanitary housing. The program is intended to keep projects competitive and extend its economic life. The Direct Lending Program offers low-interest mortgage loans for new construction and for substantial rehabilitation of existing buildings.