Mixed-Income Program
03/19/2024 - Following the 2024 MIP application deadline, CalHFA completed preliminary application assessments. As expected, MIP application requests exceeded total bond cap, state tax credits, and MIP subsidy funds available, therefore, applications were prioritized based on project public benefit and efficiency consistent with CDLAC Regulation Section 5231(g)(1) and 5231(g)(2), pursuant to the MIP term sheet. The initial award list outlines the top 13 eligible projects, which are expected to produce 1,975 total units. All preliminary awards are conditional and subject to CalHFA’s full underwriting and analysis of project feasibility.
Mixed-Income Program
The CalHFA Mixed-Income Program (MIP) provides long-term subordinate financing for new construction affordable multifamily developments throughout California that provide housing with units restricted at all income levels between 30% and 120% of the Area Median Income of the county in which the development will be located. The program was created with an annual appropriation of funds to CalHFA under 2017's Senate Bill 2 (SB2), the Building Homes and Jobs Act. CalHFA receives 15% of the Building Homes and Jobs Act Fund for MIP.
2024 Mixed-Income Program Term Sheet
Archived MIP Term Sheet
- Archived 2023 Mixed-Income Program Term Sheet - No longer accepting applications
