Stockton awarding funds for qualified non-profit developers for affordable housing

California Construction News staff writer

The City of Stockton has issued a Notice of Funding Availability (NOFA) to announce the availability of approximately $1.5 million from the annual federal Community Development Block Grant (CDBG) for property acquisition that will lead to the development of affordable housing.

The NOFA supports the city’s U.S. Department of Housing and Urban Development (HUD) consolidated plan top priorities, which include “preservation, improvement, and expansion of the supply of decent affordable housing for lower income households”.

Eligibility and requirements include:

• Nonprofit Housing Developers
• Real property voluntary acquisition
• Properties must be within the city limits of the city of Stockton
• Acquisition of vacant land, single family residences, motels, hotels, hostels, or other sites and assets, including apartments or homes, adult residential facilities, residential care facilities for the elderly, commercial properties, and other buildings with existing uses that could be converted to permanent or interim housing.

Interested nonprofit affordable housing developers must submit a letter of interest and proposal to the city’s economic development department to consider potential acquisition sites.  Letters and proposals will be accepted on an open and rolling basis, until funds are exhausted.

Letters of interest must be submitted on the organization’s letterhead and signed by a duly authorized representative of the organization.

To be considered for this funding opportunity, letters and contact sheets must be submitted via email to economic.development@stocktonca.gov with “CDBG Acquisition NOFA” in the subject line. The letter must address and meet all requirements in the Notice of Funding Availability (NOFA) for CDBG Real Property Acquisition