Mixed-Income Program

MIP News & Updates

Mixed-Income Program (MIP) applications for FY 2019/2020 are no longer being accepted. Information regarding the next funding round will be available in the Fall after the FY 2020/2021 State budget is announced.

In June of 2020, CalHFA did a brief analysis of the first 20 MIP projects.
View CalHFA MIP Analysis

Mixed-Income Program

The CalHFA Mixed-Income Program (MIP) provides long-term subordinate financing for new construction of multifamily housing projects which restrict units at a mix between 30% and 120% of the Area Median Income. The program was created after Senate Bill 2 (SB2), the Building Homes and Jobs Act which was signed into law in 2017, established an annual appropriation to the Agency for the purpose of creating mixed income multifamily residential housing for lower to moderate income households. CalHFA receives 15% of the Building Homes and Jobs Act Fund (around $30 to $45 million) for this purpose. For 2020, the Agency has made an additional $140 million available from funds provided through 2019ís Assembly Bill 101 (AB 101), the State Budget Housing Trailer Bill. AB 101 directs the funding to CalHFA to be used to finance low- and moderate-income housing.

 

2020 Mixed-Income Program Termsheet - No longer accepting applications

2019 Mixed-Income Program Termsheet - No longer accepting applications