Multifamily Programs

Asset Management

The Asset Management division plays a major role in preserving and maintaining affordable housing for CalHFA. The division manages the multifamily housing portfolio throughout the life of the loans, protecting CalHFA’s real assets from loss and ensuring regulatory compliance. The division also works with building owners and managers to ensure properties are well-operated, fiscally sound, clean and safe for tenants.

Accomplishments

  • Transitioned 37 Mental Health Services Act (MHSA) projects to Asset Management.
  • The 37 projects have a combined 1,609 housing units, including 515 MHSA units.
  • Partnered with the California Department of Housing and Community Development (HCD) to develop a common Audited Financial Statements Handbook.
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  • Worked with CalHFA’s Finance, Multifamily and Legal divisions to implement a new prepayment policy for multifamily deals within the CalHFA portfolio.
  • As part of a joint effort with HCD, the Department of Health Care Services and the California Tax Credit Allocation Committee secured nearly $12 million to develop and implement a five-year demonstration program to help transition non-elderly disabled persons from skilled-nursing facilities to apartments.