Question 1

Where may I find homelessness resources?

Accepted Answer

This webpage contains resources to help member cities address issues pertaining to homelessness within their communities.  https://www.sgvcog.org/homelessness

Question 2

Who is eligible to receive funding?

Accepted Answer

For-profit affordable housing developers, nonprofit developers, social service agencies, and other entities or organizations with demonstrated capacity to deliver the proposed affordable housing project may apply for funding for projects located in the SGVRHT’s 21 full member cities:  • Alhambra  • Arcadia  • Azusa  • Baldwin Park  • Claremont  • Covina  • Diamond Bar• Duarte  • El Monte • Glendora  • Irwindale  • La Verne  • Monrovia  • Montebello• Monterey Park • Pomona  • Rosemead  • San Gabriel • South El Monte  • South Pasadena  • West Covina Experience requirements include successful completion of similar projects and audited financials. Less experienced developers should partner with experience affordable housing developers to meet experience requirements.

Question 3

What are the requirements for eligible projects?

Accepted Answer

SGVRHT funds units that are affordable to those making up to 80% of the Area Median Income (AMI). Projects must be located in a full member city and have documented support from that member city to be eligible. Projects funded by specific funding sources, including but not limited to Measure A Production, Preservation, and Ownerships (PPO) may be subject to additional requirements, which will be included in the NOFA and application. Eligible project types include new multi-family rental, multi-family rental rehabilitation, affordable home ownership, affordable housing preservation, permanent supportive housing, transitional housing (development), and homeless housing (development). All funded projects will be deed restricted for 55 years.

Question 4

What type of funding opportunities are available?

Accepted Answer

The SGVRHT has two main funding programs, the Revolving Loan Fund (RLF) and Project Pipeline funding. The RLF is a source for land acquisition, predevelopment expenses, and bridge loans and are structured as short-term, below market loans to be repaid from construction or permanent financing. The Project Pipeline program matches eligible project to available funding, providing construction to permanent financing in the form of residual receipts loans.

Question 5

When are funding applications accepted?

Accepted Answer

SGVRHT accepts applications on a rolling basis for the Revolving Loan Fund. Project Pipeline applications are also accepted on a rolling basis, with the exception of Measure A Production, Preservation, and Ownership (PPO) funded loans. The Measure A PPO NOFA will be released on an annual basis on the SGVRHT website. Please visit funding opportunities to view the program applications. A $500 application fee is due at the time of application submittal.

Question 6

Where may I find additional resources to support myself as a Developer?

Accepted Answer

Developer Resources Due diligence list Program Guidelines Developer Instructions Events and Publication Requirements

Question 7

What are the Title Policy Requirements for developers partnering with SGVRHT?

Accepted Answer

SGVRHT requires that the Borrower obtain a minimum of a CLTA lender’s policy of title insurance issued by First American Title Company or by another title insurance company acceptable to the SGVRHT. The policy must name SGVRHT as the insured and have liability that is at least the principal amount of the loan. Record SGVRHT on Title and Surveys as follows:  Title: San Gabriel Valley Regional Housing Trust, a California joint powers authority Survey: San Gabriel Valley Regional Housing Trust, and its successors and/or assigns

Question 8

What are the Insurance Requirements for developers partnering with SGVRHT?

Accepted Answer

All insurance requirements shall be in accordance with loan agreements and evidence of insurance shall be submitted no later than 10 days prior to the anticipated Closing Date. SGVRHT shall be named as an additional insured as follows:  “San Gabriel Valley Regional Housing Trust, its member agencies, and their respective officers, agents, employees and volunteers”

Question 9

Where can I find the construction sign logo?

Accepted Answer

Please find the approved SGVRHT logos for construction signs. Logo shall not be distorted and shall be high resolution. Available logos are here.  SGVRHT logo should be included in all press releases and media advisories. Please reach out to communications@sgvcog.org prior to release for review and approval.

Question 10

What items are required before executing loan agreements with the SGVRHT?

Accepted Answer

Cost Certification As-builts ALTA survey Lien releases Updated financials  Subordination agreements

Question 11

What are the requirements for Residual Receipt Loans?

Accepted Answer

SGVRHT loans that require residuals receipts payment shall provide the SGVRHT a Residual Receipts calculation and Residual Receipts payment, if any, annually on the date stated in the Promissory Note commencing on the first payment year. Supporting documents, including financial statements of Net Cash Flow, the completed Net Cash Flow Report Form provided in the Loan Agreement, compliance reports, etc., are due two months before the annual payment due date.

SAN GABRIEL VALLEY
REGIONAL HOUSING TRUST

Frequently Asked Questions

Where may I find homelessness resources?

Who is eligible to receive funding?

What are the requirements for eligible projects?

What type of funding opportunities are available?

When are funding applications accepted?

Where may I find additional resources to support myself as a Developer?

What are the Title Policy Requirements for developers partnering with SGVRHT?

What are the Insurance Requirements for developers partnering with SGVRHT?

Where can I find the construction sign logo?

What items are required before executing loan agreements with the SGVRHT?

What are the requirements for Residual Receipt Loans?

SAN GABRIEL VALLEY REGIONAL HOUSING TRUST

Frequently Asked Questions

Where may I find homelessness resources?

Who is eligible to receive funding?

What are the requirements for eligible projects?

What type of funding opportunities are available?

When are funding applications accepted?

Where may I find additional resources to support myself as a Developer?

What are the Title Policy Requirements for developers partnering with SGVRHT?

What are the Insurance Requirements for developers partnering with SGVRHT?

Where can I find the construction sign logo?

What items are required before executing loan agreements with the SGVRHT?

What are the requirements for Residual Receipt Loans?

SAN GABRIEL VALLEY
REGIONAL HOUSING TRUST