California Multifamily Development Housing Vision Fund

The California Multifamily Development Housing Vision Fund and its CORE Business Structure and affiliates are pursuing a State Grant Funding Round of 20 million on a 68 acre land parcel targeted for 1360 units that will address communities homeless crises, provide rapid-re-housing, short term or long term family stability, increased multifamily housing as a Vision Fund investor. The California Multifamily Development Housing Vision Fund will provide will address communities homeless crises, provide rapid-re-housing, short term or long term family stability, increased multifamily housing as a Vision Fund investor. Opportunity Zones are a tool for economic development. They are a means to attract new capital to be deployed into a community. They allow investors to defer, reduce, or eliminate taxes on their unrealized capital gains. Investors can invest in Opportunity Zone Investments, with a strict focus on adhering to low-income requirements defined by Internal Revenue Code (IRC) section 45D(e) characteristics. Investing in Opportunity Act IRC sections 1400Z-1 and 1400Z-2 regulate the Opportunity Zone program and its components: 1400Z-1 governs Opportunity Zones and 1400Z-2 governs Opportunity Funds. Investors can defer capital gains taxes on earnings from many types of investments up to 2027. In order to defer tax liability until 2027, an investor must hold the Opportunity Fund investment through December 31, 2026.

MKG Enterprises Corp. January 15, 2020 at 4:47 pm
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California Multifamily Development Housing Vision Fund and its CORE Business Structure and affiliates are pursuing a State Grant Funding Round of 20 million on a 68 acre land parcel targeted for 1360 units that will address communities homeless crises, provide rapid-re-housing, short term or long term family stability, increased multifamily housing as a Vision Fund investor.

WHEREAS, GHS desires to engage INVESTORS in their California Multifamily Development Housing Vision Fund, during which GHS will provide information it considers to be confidential and proprietary, including by not limited to its Contractor Private Client Information, Business Plans, Contractor Agreement; Commercial Real Estate Land sale-and lease back acquisitions, land banking, agents and sellers information, multifamily development source of grant funding used for affordable housing development not known to recipient, Multi-family Real Estate Bank Syndicates, Private Lenders and Brokers Dealers.

Download and sigh NDA agreement to receive prospectus and subscription agreement. email investorsrelations@ghsgovansconstruction.net

SCOPE OF CALIFORNIA MULTIFAMILY DEVELOPMENT HOUSING VISION FUND

A. Round 2 Multifamily Housing Program (MHP) Funds available $297 Million

B. Infill Infrastructure Grant Program (IIG) Funds available $194 million

C. Farm worker Housing Grant Program $74 million

D. Housing for a Healthy California Funds available coming spring 2020

  1. Improve the number and quality of multifamily housing and emergency shelters for homeless individuals and families.

2. Help build more multifamily housing as an investor

3. Provide essential affordable housing services to residents and

4. Prevent families and individuals from becoming homeless.

Multifamily Units Affordable Housing Development located in the City of Fresno 50% of the project is State Funded and 4% is tax credits

Improve the number and quality of multifamily housing in affected cities and counties (SB 330)

Designated Jurisdictions Prohibited from Certain Zoning-Related Actions
SB 330 (Statutes of 2019) requires (“affected cities”) and census designated places (CDPs) within the unincorporated county (“affected counties”) that are prohibited from taking certain zoning-related actions, including, among other things:

Downzoning certain parcels
Imposing a moratorium on development
Imposing design review standards that are not objective
The law also requires jurisdiction-wide housing replacement when housing affordable to lower-income residents is demolished.

View a full list of all the bill’s provisions .

California “affected cities” – SB 330 defines an “affected city,” as any city, including a charter city, that is located in an urbanized area or urban cluster, as designated by the United States Census Bureau. Any city with a population less than 5,000 and not located within an urbanized area is exempt. 445 of the 482 cities in the state are identified as affected by the provisions of SB 330.

Definition of “affected counties” – “Affected counties” are defined as a CDP that is wholly within the boundaries of an urbanized area. Based on HCD’s determination, 141 CDPs in 22 counties are identified as affected by the provisions of SB 330.

map of California

View map of Affected Cities and Affected Counties Opens in New Window.

We are proposing to build up to 1360 multi-family units,  NetZero Affordable Housing 

Development, EV charging stations and storage systems.

Affordable housing development Grants Funding overview:

GHS Govans Construction Inc. CSLB # 933243 Signatory to the Northern California Carpenters Union and Operating Engineers Local 3 is pursuing affordable housing grant funding that will allow us to leverage state matching funds to commit millions towards Affordable Housing Development from various stakeholders to sign an NDA and MOU from mortgage lenders, architectures, developers, non-profits, community-based organizations, subcontractors, 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.

Affordable Housing Developments (AHD)

Housing Related Infrastructure (HRI)

Sustainable Transportation Infrastructure (STI)

Transportation-Related Amenities (TRA)

Programs (PGM)

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.

Assistance Type

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).

Terms

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.

Eligible Activities 

Affordable Housing Developments** 

Housing-Related Infrastructure 

Sustainable Transportation Infrastructure 

Transportation-Related Amenities 

Program Costs (including active transportation, transit ridership, or criteria air pollutant reduction programs)

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