A $4.2 million grant from the state to the Orange County Housing Finance Trust will help finance seven developments with 467 affordable apartments throughout the county, officials said Thursday.
In a competition that drew bids from 33 other organizations throughout California, the state ranked the Orange County Housing Finance Trust’s project second. The Orange County Board of Supervisors agreed to match the grant, a necessary step in the process.
“The award of this state funding is a confirmation that our collective efforts to address a serious affordable housing issue can make a difference,” said Dana Point Council member Jamey Frederico, chair of the trust.
Some of the housing projects will start construction right away and others will begin later this year and in 2022. The goal of the trust and county is to build 2,700 permanent supportive housing units by 2025 for the county’s needy.
“The trust and the county has affordable housing developers ready to partner with us and help us achieve our goals,” said Orange County Supervisor Doug Chaffee. “Our regional collaborative approach is a best-practice model for the state to provide additional funding and we are working with our legislative delegation to do just that.”
The trust, which was created in 2019, is a collaboration of the county and 23 cities to find permanent housing for the homeless.
“I thank the Department of Housing and Community Development for awarding vital funding to Orange County to help reduce homelessness,” said state Sen. Senator Patricia Bates, R-Laguna Niguel, vice chair of the Senate Housing Committee. “With the state and local governments working together with the private sector, I hope we can continue to make progress to build needed housing. I will continue to make sure our region receives its share of funding from state programs.”
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