Funds Available For Affordable Housing Development In Malibu

Press release from the City of Malibu:

July 8, 2022

COMMUNITY DEVELOPMENT BLOCK GRANT – DISASTER RECOVERY MULTI-FAMILY HOUSING PROGRAM

In response to unmet recovery needs related to the Woolsey Fire, the City was awarded approximately $15 million in federal Community Development Block Grant-Disaster Recovery (CDBG-DR) funds to serve as gap funding to finance eligible multi-family housing projects. The City of Malibu has published a Notice Inviting Interest in the CDBG-DR Affordable Multi-Family Housing Program and is requesting that Eligible Developers (those interested in federal CDBG-DR funding available to cover funding gaps needed to finance new construction, reconstruction or rehabilitation for affordable multi-family housing projects in Malibu) submit a Notice of Interest form (included as Attachment 1 to the Notice Inviting Interest). Submit the form by email to the City Clerk at CityClerk@MalibuCity.org at or before 5:00 PM on Monday, July 18, 2022, after which time they will be reviewed by City staff in consultation with Housing and Community Development.

This press release was produced by the City of Malibu. The views expressed here are the author’s own.