Additional $137m in Homekey Awards Announced, Administration Requests $200m for Waitlisted Projects
This week, the Office of Governor Gavin Newsom announced an additional $137 million in awards to 15 applicants for 19 projects totaling 938 units as part of the state’s $600 million Homekey initiative to purchase and rehabilitate housing – including hotels, motels, vacant apartment buildings, and other properties – to convert them into permanent, long-term housing for people experiencing or at-risk of experiencing homelessness.
This week’s announcements include awards to Lake County, Tulare County Health and Human Services Agency, Tehama County, Mariposa County Health and Human Services Agency, Del Norte County, City of Long Beach, Alameda County, Sutter County, Humboldt County, and Los Angeles County. The awards bring the state total awarded under Homekey to $449.9 million for 33 applicants and 49 awards totaling 3,351 units. The statewide average cost to Homekey thus far is approximately $134,000 per unit.
Governor Newsom additionally requested of the Joint Legislative Budget Committee (JLBC) to approve an additional $200 million in Coronavirus Relief Funding (CRF) for Homekey. According to the Administration, the additional funding would provide for approximately 20 more Homekey projects now on a waitlist pending additional funds. If JLBC approves of the request, the Administration will have provided local governments with a total of $800 million for acquisition, rehabilitation, and operating support under Homekey.
A press announcement from the Newsom Administration is available here.