2014 MHSA Deadlines
COMPLETED Applications Due to CalHFA
Dates Available for Sr. Loan Committee
9% Application Due to TCAC
MHSA 2013 UPDATE (04/01/2013)
UPDATED CLOSING CHECKLIST
The process for MHSA Rental Housing when CalHFA is a Junior Lender has been streamlined. Please see our updated closing checklist under Closing/Rental Housing.
Mental Health Services Act Housing Program (MHSA)
Jointly administered by the California Department of Mental Health and the California Housing Finance Agency on behalf of counties, the Mental Health Services Act (MHSA) Housing Program offers permanent financing and capitalized operating subsidies for the development of permanent supportive housing, including both rental and shared housing, to serve persons with serious mental illness and their families who are homeless or at risk of homelessness. MHSA Housing Program funds will be allocated for the development, acquisition, construction, and/or rehabilitation of permanent supportive housing.
2012 MHSA Loan Closing Time Line
The Agency is establishing critical milestones that must be met so that we can facilitate the loan closings for all of the 2012 developments that we have committed.
In order to meet loan closing timelines, Loan Closing Checklist Due Diligence binders need to be submitted no later than 60 days prior to closing date. For example if you have a:
- Loan Closing by October 31, 2012
- Loan Closing Checklist Due diligence binders are due no later than 60 days prior to closing date. Please submit at least 85% of the due diligence. Due Diligence submission date: August 31 for loan closings by October 31.
- Agency will not entertain changes to the boiler plate loan documents. If there will be boiler plate loan documents changes requested we will not be able to close the loan until January 2013.
- Loan Closing by December 2012
- Loan Closing Checklist Due diligence binders are due no later than 60 days prior to closing date. Please submit at least 85% of the due diligence. Due Diligence submission date: October 15 for loan closings by December 21.
- Agency will not entertain changes to the boilerplate loan documents. If boilerplate loan document changes are requested, this will delay the closing, and if Agency determines that the closing cannot occur by December 21, then the closing will need to be rescheduled into April 2013 or later.
Please contact your loan officer to establish when your due diligence is due based on your projected closing deadline.
Disclaimer: Each document is intended for informational purposes only. If your loan application is accepted by CalHFA, the loan documents specific to your transaction will be tailored to meet the specific requirements of your transaction and may vary substantially from the documents posted here. The template loan documents are subject to change without notice. CalHFA does not warrant or represent that the covenants and conditions in the template documents will apply to your specific transaction.