California School Employee Housing Assistance Grant Program.

Existing law establishes the Department of Housing and Community Development in the Business, Consumer Services, and Housing Agency and makes the department responsible for administering various housing programs throughout the state, including, among others, the Multifamily Housing Program, the CalHOME Program, and the California Emergency Solutions Grants Program. This bill would require the department to administer a program to provide financing assistance for the creation of affordable rental housing for employees of a qualified school district, as defined. The bill would require financing of rental housing assistance be in the form of specified types of loans. The bill would require the department, when making loans to qualified developers under these provisions, to establish and use a project selection process that meets specified requirements. The bill would create in the State Treasury the California School Employee Housing Assistance Fund for these purposes. The bill would make implementation of these provisions subject to appropriation by the Legislature.