(a) A county shall use grants awarded pursuant to this part for one or more of the following:
(1) Long-term rental assistance in an amount the county identifies, but no more than two times the fair market rent for the market area where the county is providing long-term rental assistance.
(2) Acquisition funding, new construction, gap funding, or reconstruction and rehabilitation.
(3) Project based operating subsidies.
(4) Incentives to landlords to accept rental assistance for program participants, including security deposits and holding fees.
(5) Administrative costs, as determined by the department, of no more than 5 percent of the total grant awarded, or a higher amount upon approval by the department.
(b) Project based operating subsidies may include either or both of the following:
(1) Operating subsidies for periods of up to five years.
(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.
(Amended by Stats. 2019, Ch. 620, Sec. 9. (AB 957) Effective October 8, 2019.)
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal insurance products you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with access to legal services through a network of provider law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our provider law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.
