Mayor Eric Garcetti today announced $20 million in new funding for the City’s Supportive Housing Loan Fund (SHLF), lifting its total available funding to $60 million in support of the Mayor’s goal to build 1,000 new units of permanent supportive housing each year.

Managed by the Corporation for Supportive Housing (CSH), the SHLF loan fund is a public-private partnership that delivers capital to affordable housing builders, to help them acquire prime properties for permanent supportive housing. The SHLF can also cover the costs of developing plans and securing approvals.

“Every Angeleno deserves safe housing that they can afford — it is a basic human right,” said Mayor Garcetti. “When the public and private sectors join forces to serve the most vulnerable in our community, our ability to build housing and deliver services can reach new heights.”
“Foundations have the most impact when taking early risks to demonstrate solutions that work,” said California Community Foundation President & CEO Antonia Hernández. “We know that permanent supportive housing works to end homelessness, and we’re proud to work with other funders and the City to finance the early costs of providing homes for those most in need in Los Angeles.”

To streamline the approval process for PSH developments, Mayor Garcetti issued Executive Directive 13 — which directs city departments to expedite case processing for housing development projects with more than 20 percent of units dedicated as affordable. The City is also expanding the affordable housing pipeline through the disposition and development of City-owned land.

The expansion of the SHLF was made possible by $20 million in loans from four foundations: California Community Foundation, Conrad N. Hilton Foundation, the Kresge Foundation, and the Weingart Foundation. The SHLF is managed by the Corporation for Supportive Housing (CSH) which began in 2008 through a partnership with the Los Angeles Housing + Community Investment Department (HCIDLA).

Since 2008, the SHLF has invested nearly $70 million in more than 40 projects, resulting in 2,600 supportive and affordable apartments for formerly homeless Angelenos. Several of the projects include on-site services that extend benefits to the surrounding community — including health clinics that serve both building residents and neighbors.