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News & Press: Sacramento Report

Senate Bill 2 (Recording Fee Surcharges) Start to Fund Housing

Tuesday, April 16, 2019  
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The California Housing Finance Agency (CalHFA) is accepting applications until the end of April for its Multifamily Mixed-Income Program, administered under the “Building Homes and Jobs Act” as enacted by Senate Bill 2, passed in 2017. Under the program, $40 million is available this year for mixed-income projects that range from 30 to 120 percent of the area median income. CalHFA expects funding from the program to be used in conjunction with other resources, and estimates that the project will produce 750-1,125 homes annually. Governor Newsom has also proposed adding $500 million in his budget as a one-time shot in the arm for the housing program.

California Land Title Association

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