City Grant with LINC Housing

On June 10, 2016, LBAHC submitted a grant proposal to the City of Long Beach with technical support and grant writing from LINC Housing, Inc. The grant proposal is for $3.5 million in affordable housing funds from a City’s Notice of Funding Availability (NOFA) designed to provide funding for affordable housing properties in Long Beach. The funds would go towards rehab work needed at Cambridge Apartments (24 units), Beachwood Apartments (25 units) and 8th Street Apartments (47 units). This would be done through a 4%/9% tax credit application to the State of California that would provide affordable financing for each property in 2017.

We will learn the City’s review of our proposal in September 2016.

LINC Housing, Inc. is a large affordable housing developer based in Long Beach. They are interested in collaborating with LBAHC to develop new affordable housing projects in Long Beach. LBAHC could not have applied for these funds without the collaboration with LINC Housing, Inc.

Wifi Grant- 4 Properties get Wifi services

Starting in July 2016 LBAHC will be providing low cost wifi services to the following building: 

  • Grace Manor Apartments
  • Vermont Manor Apartments
  • West Park Apartments
  • Beverly Manor Apartments

These Wi-Fi services, system hardware and installation were paid for by an $85,000 grant we received from the Public Utilities Commission (PUC). LBAHC will be seeking another Wi-Fi grant from PUC to add Wi-Fi services to 6 other properties.

The monthly cost to residents, after an initial grace period, will range from $3 to $20 maximum as set by the PUC.

Alpha Property Management

In August 2016 Alpha will take over managing 6 more LBAHC properties:

  • Johnson Apartments
  • Adco Apartments
  • Somerset Apartments
  • Live Oak Apartments
  • Fernwood Apartments
  • Carlin Apartments

 This will bring the total properties Alpha manages for LBAHC to 18. This will allow LBAHC to focus on refinancing plans, new development project, property rehab, repair projects and program services to residents.

Affordable Housing Funding

Starting in 2016 and continuing for the next couple of years more State, County and City funding has been made available for affordable housing. This increase in funding is due to two key factors; increased revenue to the State of California and the affordable housing crisis that has increased. The following sources are offering affordable housing funds:

  • City of Long Beach NOFA- $3.5 million in affordable housing funds made available in May 2016. The City also offered a NOFA for Section 8 vouchers.
  • County of Los Angeles- $28 million in affordable housing funds for affordable housing projects for supportive housing.
  • CalHFA- Has announced it will release new NOFA for affordable housing projects in the coming months. Total of $40 million available for various types of projects.

Corporate Partners

  • LINC
  • Bank of California
  • Universal Bank
  • F&M Bank
  • US Bank
  • California Bank & Trust
  • Forbix Financial
  • CalHFA (California Housing Financing Agency)
  • Alpha Property Management
  • Centro CHA
  • Greater Long Beach Interfaith Community Organization (ICO)
  • Housing Long Beach
  • Freedom Writers Foundation
  • United Cambodian Community (UCC)
  • Matt Norton, Attorney at Law
  • Long Beach Chamber of Commerce
  • CAN (California Association of Non-Profits)
  • SCANPH (Sothern California Association of Non-Profit Housing)
  • ARC Mid-Cities

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