Governor Gavin Newsom (D-CA) announced a $101 million fund to rebuild fire-devastated areas of Los Angeles. The fund is specifically intended for the “development of affordable multifamily rental housing.”
“Los Angeles has taken significant steps to rebuild after January’s fires, but the devastation is significant and there remains a long road ahead,” Newsom said in a statement. “Thousands of families – from Pacific Palisades to Altadena to Malibu – are still displaced and we owe it to them to help. The funding we’re announcing today will accelerate the development of affordable multifamily rental housing so that those rebuilding their lives after this tragedy have access to a safe, affordable place to come home to.”
According to the California Department of Housing and Community Development (HCD) Notice of Funding Availability, the funding will “support the development of safe, fire-resilient multifamily low-income housing that will provide long-term stability, protect vulnerable populations, and contribute to a more equitable and resilient Los Angeles.”
Funding for the project stems from the multifamily housing program, supportive housing programs, transit-oriented development, veteran and homelessness prevention programs, and other initiatives.
HCD announced a separate $382 million program for the development of affordable multifamily rental housing in February, and another $50 million Tribal Multifamily Finance Super NOFA (MFSN) in March.
Earlier this year, Newsom said the state received more than $2 billion in aid from the U.S. Small Business Administration (SBA) and Federal Emergency Management Agency (FEMA).
“This federal disaster aid brings much-needed relief for impacted homeowners, renters, businesses grappling with loss and damage,” the governor said at the time. “California is grateful to President Trump and our federal partners for making this recovery a priority.”
