$388 Million in Proposition 1C Housing Bond Funding Awarded: Over $40 Million To SCANPH Members

$388 Million in Proposition 1C Housing Bond Funding Awarded

SCANPH members pick up over $40 million in awards!

The Schwarzenegger Administration announced that $388.8 million in Proposition 1C funds are being awarded to local communities throughout the state to improve housing, infrastructure and support housing near transit. Housing advocates remained concerned that not enough low-income housing is being developed in return for awarding large non-housing subsidies.

The first awards under the new housing bond Transit Oriented Development (TOD) and Infill Infrastructure (Infill) programs were approved this week. These commitments join recent Multifamily Housing Program (MHP) awards made possible by the infusion of new bond funds. An additional $150 million in awards will be available if the Legislature passes AB 1252 (Caballero) which provides for an additional appropriation for these important programs.

Proposition 1C, which will eventually provide $2.85 billion to finance affordable housing and infrastructure across California was approved by voters in November 2006. Housing advocates played strong roles in campaigning for successful passage, portraying the bond measure as an important step to provide homes for the working poor and homeless throughout the state.

The first round of Infill awards included approval of $30 million to improve Figueroa Street from the Staples Center in downtown Los Angeles to the University of Southern California. The winning proposal was submitted by the Community Redevelopment Agency of Los Angeles and the South Park Business Improvement District, which is funded by AEG, owner of Staples Center. AEG is developing the $2.5-billion L.A. Live, which includes the Nokia Theatre and will feature broadcast TV studios, movie theaters, restaurants and a luxury hotel. According to the LA Times, the initial application for this project failed to show a strong connection between the infrastructure expenditures and affordable housing development, but the CRA-LA was invited to revise and clarify their application.

Business districts initially were not eligible to compete for Proposition 1C grant funds until legislation supported by AEG was passed by the state Senate in the last hours of its session last year and signed into law by the Governor. Many housing advocates were disappointed by the governor's action, convinced that not enough low-income housing would be produced in return for funding BID-sponsored proposals.

SCANPH members accounted for $40,022,247 of the Proposition 1C funding in this current round of awards; representing six projects in the Infill Incentives Grant Program (IIG), two projects in the Transit Oriented Development Program (TOD), and two projects in the Multifamily Housing Program (MHP).

Congratulations to the following SCANPH members for winning their awards.

LA Housing Partnership Inc., Rosewood Gardens, $1,985,272 (IIG)
Simpson Housing & LINC Housing, Ocean Breeze Apartments, $997,120 (IIG)
LINC Housing, SEASONS at Compton, $3,169,934 (IIG)
Cabrillo Economic Development Corp., Plaza Amistad, $4,106,000 (IIG)
National CORE, 3rd and Woods Family, $2,695,000 (IIG)
National CORE, 105th Normandie Senior Housing, $1,033,418 (IIG)

City of LA & McCormick Baron and Salazar, MacArthur Park "A", $9,293,755 (TOD)
City of LA & McCormick Baron and Salazar, MacArthur Park "B", $7,705,055 (TOD)

Beyond Shelter Housing Development Corp., Slauson Station Apartments, $2,629,300 (MHP)
Hollywood Community Housing Corp., Hollywood Bungalow Courts, $3,166,550 (MHP)
Corporation for Better Housing, Poplar Street Apartments, $3,240,843 (MHP)

For a full listing of awards by program please download the list here.