From CBS 8 San Diego:
The San Diego Housing Commission announced Wednesday it was accepting applications from property developers for more than $46 million available from federal and local funds to create and preserve affordable rental housing units, including homes for individuals and families experiencing homelessness.
It is accepting applications to bolster the city's affordable housing supply through Oct. 30.
This funding includes $21.6 million set aside specifically to preserve or extend the affordability of existing rental housing units in San Diego -- a significant need identified in the SDHC report "Preserving Affordable Housing in the City of San Diego."
"It's incredibly exciting to see more than $46 million become available to confront our housing crisis, particularly $21.6 million to preserve existing affordable rental housing," said San Diego City Council President Georgette Gomez. "The affordable housing preservation study we released this summer won't just sit on a shelf -- we're already taking action to implement its recommendations. I'm looking forward to partnering with the Housing Commission and the private sector to put these dollars to work for San Diego's families."
In addition to the preservation funding, up to $25 million is available to support the development of new affordable housing units or to rehabilitate existing affordable housing. This includes $10.6 million for permanent housing with supportive services for individuals and families experiencing homelessness.
"Addressing the city of San Diego's housing challenges requires a balanced approach that creates new housing, while making sure that existing affordable units remain affordable. These funds will provide essential support for both of these efforts," said Richard Gentry, SDHC president and CEO.
Read CBS 8 San Diego's article "San Diego Housing Commission announces $46M to create affordable housing."