(a) A county shall use grants awarded pursuant to this part for all of the following:
(1) Acquisition funding, new construction, or reconstruction and rehabilitation.
(2) Project based operating assistance.
(3) A county’s administrative costs, as determined by the department, of at least 5 percent of the total grant awarded.
(b) Project based operating assistance may include either or both of the following:
(1) Long-term rental assistance for periods of up to five years, subject to renewal grants.
(2) A capitalized operating reserve for at least 15 years to pay for operating costs of an apartment or apartments receiving capital funding to provide supportive housing to people experiencing homelessness.
(c) A county awarded grant funds pursuant to this part shall comply with federal Housing Trust Fund regulations.
(Added by Stats. 2017, Ch. 777, Sec. 2. (AB 74) Effective January 1, 2018.)
Last modified: October 25, 2018