Housing Trust Placer to Host its Second Annual Fundraiser on October 2nd
September 2023
Housing Trust Placer will host its second annual fundraiser at Topgolf in Roseville on October 2, 2023. Sponsors include Taylor Builders (Event Sponsor), North State Building Industry Association, Marques Engineering, and King Engineering. About 200 guests are expected for a fun-filled evening of golf, prizes, and a live auction featuring exciting travel, golf, and culinary experiences.
A DASH of New Regulations to Boost Affordable Housing
March 7, 2023
Significant legislation was introduced in the Senate today by Sen. Ron Wyden, D-Oregon. The Decent, Affordable, Safe Housing for All (“DASH”) Act proposes dramatic changes that could move the needle on affordable housing to the tune of nearly two million homes. The main features of the act are to expand the availability and impact of Low Income Housing Tax Credits as follows:
Lowering the 50% Test: Presently, if a developer finances 50% or more of a project with tax-exempt private activity bonds (“PABs”), the project owner can claim tax credits without impacting the issuing agency’s LIHTC volume cap. Sen. Wyden proposes that the minimum be reduced to 25% to free up funds for more affordable housing projects.
Boost for Extremely Low Income (“ELI”): The act provides up to a 50% cost basis boost for projects that have at least 20% ELI households.
More 9% LIHTC Allocations: The 9% low income housing tax credit is the primary tool of multifamily affordable housing nationwide, but they are in short supply – a certain amount is allocated annually to each state based on population, and it’s never enough. DASH calls for a temporary 12.5% increase in the allocation.
Placer County and City of Roseville Win Prohousing Designation
February 2023
Congratulations to Placer County and the City of Roseville for receiving the Prohousing designation from State of California. Governor Newsom commended these jurisdictions for “stepping up and being proactive when it comes to their commitment to build more housing.”
Amongst other benefits, the Prohousing designation will provide Placer County and Roseville with higher point scores when competing for funding from the Department of Housing and Community Development (“HCD”). In the case of Placer County’s award, the Governor’s Office cited one of the deciding factors was “the county has established consistent funding for its local housing trust fund to both preserve workforce housing and to purchase additional sites for affordable housing development.”
Below is a list of all ten jurisdictions that have received the designation to date:
- Citrus Heights
- El Cerrito
- Fontana
- Oakland
- Placer County
- Roseville
- Sacramento
- Sacramento County
- San Diego
- West Sacramento
Parkside at Sabre City: Community Meeting
March 14, 2023, from 5:00 to 6:30pm
Housing Trust Placer invites residents of the Sabre City community to a meeting to learn about the Parkside at Sabre City project. The meeting will be held at Antelope Springs Church at 4555 PFE Road, Roseville, CA 95747 (see directions below).
Housing Trust Placer Expresses Support for Rocklin’s College Park Senior Housing
Board of Supervisors Approves Financing of Sabre City Project
On December 13, 2022, Placer County’s Board of Supervisors approved a $5 million, fully-amortizing loan transaction to support the development of 44 units of affordable housing in Sabre City.
Jim Bayless, Vice Chair of Housing Trust Placer, outlines the financing structure for the Board.
Supervisor Bonnie Gore invites HTP to CSAC
Supervisor Gore is active in the California State Association of Counties, where she represents Placer County. She asked HTP’s CEO Dan Heldridge to address the CSAC at their 128th annual meeting on November 16, 2022, in Anaheim, California. The topic was Creative Ways to Address Affordable Housing.
For more information: https://www.facebook.com/BonnieGoreCA/
Housing Trust Placer Hosts Inaugural Fundraiser
On September 26th, 2022, HTP hosted a fundraising event for nearly 200 participants at Topgolf in Roseville, California. The event was sold out, and we are grateful for the warm support from our community.
Lincoln Plans for 110-unit Development on O Street
https://goldcountrymedia.com/news/227567/lincoln-approves-hotel-incentive-program/
