GHS Govans Construction Inc. CSLB # 933243 Signatory to the Northern California Carpenters Union is seeking 10 million that will allow us to leverage state matching funds to commit 20 million towards Affordable Housing Development E3 from various investment partners to sign a MOU from architectures, developers, fin-techs, non-profits, community based organizations, sup-contractors, are that will achieve Green House Gas emissions reductions to benefit all California communities, particularly through increasing accessibility to affordable housing, and key destinations via low-carbon transportation resulting in fewer vehicle miles traveled (VMT) through shortened or reduced trip length or mode shift from Single Occupancy Vehicle (SOV) use to transit, bicycling or walking.increasing accessibility to affordable housing, and key destinations via low-carbon transportation resulting in fewer vehicle miles traveled (VMT) through shortened or reduced trip length or mode shift from Single Occupancy Vehicle (SOV) use to transit, bicycling or walking.
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Affordable Housing Developments (AHD)
Housing Related Infrastructure (HRI)
Sustainable Transportation Infrastructure (STI)
Transportation-Related Amenities (TRA)
Workforce development program
Statutory Funding Set-Asides
Fifty (50) percent of the available funds are set aside for Affordable Housing Developments, and 50 percent of the available funds are set aside for projects benefiting Disadvantaged Communities.
Note: A single project can address both set-asides above, and are not mutually exclusive.
The AHSC Program will assist project areas by providing grants and/or loans, or any combination thereof, that will achieve GHG emissions reductions and benefit Disadvantaged Communities through increasing accessibility of affordable housing, employment centers, and key destinations via low-carbon transportation resulting in fewer vehicle miles traveled (VMT) through shortened or reduced trip length or mode shift from Single Occupancy Vehicle (SOV) use to transit, bicycling, or walking. Three Project Area types have been identified to implement this strategy:
Transit Oriented Development (TOD) Project Areas,
Integrated Connectivity Project (ICP) Project Areas, or
Rural Innovation Project Areas (RIPA).
The assistance terms and limits include, but are not limited to, the following requirements:
The maximum AHSC Program loan or grant award or combination thereof is $20 million with a minimum award of at least $1 million in TOD Project Areas and $500,000 in ICP and RIPA Project Areas.
A single developer may receive no more than $40 million per NOFA funding cycle.*
*These limitations may be waived if necessary to meet statutorily required Affordable Housing and Disadvantaged Community set-asides.
Affordable Housing Developments**
Sustainable Transportation Infrastructure
Program Costs (including active transportation, transit ridership, or criteria air pollutant reduction programs)
**includes new construction, acquisition, and substantial rehabilitation, including preservation of affordable housing at risk, or conversion of one or more nonresidential structures to residential dwelling units.
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Making a 100% cash purchase
Making a purchase using debt leverage
Partnering as tenants-in-common with other owners
Originating a loan to a person/entity with real estate as collateral
Buying equity in an entity (LLC, LP, etc.) that is investing in real estate