City Council Actions
On April 9, 2024, the City Council authorized staff to pursue establishing a local housing trust fund. On May 14, 2024, City Council provided authorization to issue letters of intent to two potential projects. The potential projects could be awarded funds if the City is awarded a grant through the State's Local Housing Trust Fund (LHTF) program.
California Department of Housing and Community Development
Information about the LHTF program is available on the California Department of Housing and Community Development (HCD) website.
On April 9, 2024, the City Council authorized staff to apply for matching funds from the Local Housing Trust Fund (LHTF) Program administered by the California Department of Housing and Community Development (HCD). HCD issued the Notice of Funding Availability (NOFA) for the LHTF Program on July 9, 2024, and began accepting applications on August 20, 2024. On September 11, 2024, the Housing Program Coordinator submitted the LHTF Program application to HCD. HCD’s updated NOFA calendar shows awards for the LHTF Program are anticipated in January 2025.
Pipeline Projects for the Local Housing Trust Fund
Project
|
Applicant
|
AMI Levels Served
|
Funding Amounts Requested
|
Preliminary Funding Amount
|
Status
|
31729 & 31735 Coast Highway
|
West Development Ventures / Fullerton Consulting Partners
|
30% - 60%
|
$3,000,000
|
$3,000,000
|
Conceptual
|
340 St. Ann’s
|
Related California
|
Low, Very Low, Extremely Low
|
$5,000,000
|
$5,000,000
|
Conceptual
|
|
|
Total
|
$8,000,000*
|
$8,000,000*
|
|
*Represents more than 3 times the $2,500,000 requested by the City of Laguna Beach from HCD’s Local Housing Trust Fund program.