Rutan & Tucker partner Bill Ihrke was interviewed in a June 7, 2016 article “Calif. Developers Face Large Affordable Housing Gap.” This article address issues that arise as California cities continue to suffer through a severe affordable housing shortage, and lawyers say developers are having to find creative ways to piece together financing from myriad sources to pay for such projects amid a shortage of available funds for low-income housing.
While the loss of redevelopment agencies has created a major financial gap, some new state laws have cropped up to lessen that gap, including the Enhanced Infrastructure Financing District law and the Community Revitalization and Investment Authority law.
William H. Ihrke of Rutan & Tucker LLP tells his developer clients they may be able to get some funding from those sources.
And there are still some federal moneys to be had, like the Community Development Block Grant program, which is administered through states and cities. There is also the HOME program and federal tax credit program, Ihrke says.