Orange County is making it easier to fund new housing projects

Orange County is delivering on its promise to promote more affordable and supportive housing.

On Tuesday, February 28, 2023, the Orange County Board of Supervisors unanimously approved changes to the 2023 Supportive Housing Notice of Funding Availability (NOFA) that will make it easier for new housing projects to move forward by expanding access to $67.1 million in funding and 210 Project Based Vouchers.

“Orange County has a desperate need for more affordable and supportive housing,” said Vice Chairman Andrew Do. “With the Board’s actions, we are making it easier for new affordable and supportive housing projects to move forward.”

The Board’s action on Tuesday will impact $67.1 million in funding for loans and 210 Project Based Vouchers with an estimated value of $68.5 million.

2018 Orange County Housing Finance Trust

In March 2018, Supervisor Andrew Do proposed a board resolution calling for Orange County to make housing more affordable to families at median income levels and below. In September of the same year, the County joined the state delegation in helping draft Assembly Bill 448, which created the Orange County Housing Finance Trust.

Since 2018, Orange County has invested more than $155 million in 36 projects, representing more than 1,200 supportive housing units and 1,000 affordable housing units at various stages of construction, completion, and financing through the County.

“We’ve achieved remarkable progress in addressing homelessness in Orange County,” said Supervisor Do. “However, more work must be done to make housing more affordable for working families.”

The impact of the pandemic resulted in significant increases in construction costs and delays, staffing shortages, and inflation. This delay has severely impacted the supportive housing pipeline. The County currently has over 2,200 supportive and affordable housing units in the pipeline.

2,396 Units of Supportive Housing by 2029

Based on the 2022 Point in Time Count, in December 2022, the County created the 2022 Housing Funding Strategy and identified a new goal of producing 2,396 supportive housing units by 2029.

“Orange County is keeping our promise to support more affordable housing,” said Supervisor Do.

“In 2017, the waitlist for housing vouchers was over 40,000. Thanks to the diligent work from the OC Housing Authority, that list has gone down to 2,600.”

The County has successfully leveraged its capital funding investment in about a $1 to $5.50 ratio of other non-County funding. This means that for every $1 of County capital funding invested, approximately $5.50 of other public subsidies and private investments are contributed.

“The 2023 Supportive Housing NOFA, set to be released this month, is just one of many funding sources available to make housing more affordable in Orange County,” said Supervisor Do.