PRESS RELEASE

City of Long Beach 
Public Information Office
411 W. Ocean Blvd, 
Long Beach, CA 90802

7/31/2023
FOR IMMEDIATE RELEASEPress Release # 073123-3
Subject:
City of Long Beach Announces Availability of $12.7 Million in Loans for the Creation of New Affordable Housing Developments
Contact:
Rick de la Torre
562.570.7174
Rick.DeLaTorre@longbeach.gov
Community Information Officer
Development Services Department




Photo of townhome style homes being built

Long Beach, CA – The Long Beach Development Services Department is seeking to award $12.7 million in loans to qualified housing development companies for the production of new affordable rental housing in the city.

“Long Beach continues its commitment to ensuring that safe, quality affordable housing is available to meet the needs of our community and the high demand,” said Mayor Rex Richardson. “These new funding opportunities reflect our ongoing dedication to growing the city’s housing stock and supporting our residents who are most in need.”

The announcement, known as a Notice of Funding Availability (NOFA), aims to identify and engage prospective affordable housing partners for the development of new affordable housing units, acquisition, and/or the rehabilitation of existing unrestricted units serving households earning at or below 80% of the Los Angeles County median income. The development of new affordable housing projects intended for families is strongly preferred but not required.

The NOFA, proposal application and required pro forma template are available online under the “Notice of Funding Availability for Affordable Housing Companies” webpage section. Proposals will be accepted through 4 p.m. on Sept. 18, 2023, and should be mailed or delivered to Kjell Stava, Real Estate Project Coordinator, at Long Beach City Hall, 411 W. Ocean Blvd., 3rd Floor, Long Beach, CA 90802. Questions regarding the NOFA can be submitted through August 31, 2023, via email to Kjell.Stava@longbeach.gov.

The project(s) that are determined to be the most competitive will be presented to The Long Beach Community Investment Company (LBCIC), the City’s nonprofit affiliate, for confirmation and loan approval. Financial assistance for selected projects will be provided in the form of residual receipts loans made available by both federal and state funding.

“We are happy and proud to continue creating new opportunities to promote the development and rehabilitation of affordable housing options throughout the city,” said Meggan Sorensen, Housing and Neighborhood Services Bureau Manager. “We appreciate the LBCIC along with the state and federal agencies involved in this partnership effort to make Long Beach more livable and equitable for all.”

The City of Long Beach remains committed to improving access to safe, quality housing for residents across all income levels, promoting a diversity of housing types and increasing the feasibility of development of underused sites throughout the city. Since January 2023, more than 250 permanent affordable units have been approved in partnership with The LBCIC for construction citywide.

For more information on the City’s affordable housing and assistance programs, the community can visit longbeach.gov/lbds.

About the City of Long Beach
Home to approximately 470,000 people, the multiple award-winning and innovative City of Long Beach offers all the world-class amenities of a large metropolitan city while maintaining a strong sense of individual and diverse neighborhoods nestled together along the California coast. As a full-service charter city, Long Beach is home to the Queen Mary, Aquarium of the Pacific, several museums and theaters, a highly rated school district, Long Beach Airport, the Port of Long Beach, as well as many award-winning City departments such as Health and Human Services; Parks, Recreation and Marine; Development Services; Public Works and more. The City also has a highly respected university and city college, two historic ranchos, five hospitals, 12 libraries, five golf courses, 169 parks, miles of beaches, marinas, bike paths and a Bike Share program.

For more information about the City of Long Beach, visit http://longbeach.gov/. Follow us on social to keep up with the latest news: FacebookTwitterInstagram, and YouTube.

About Long Beach Development Services
Serving residents, businesses and the community at large, the award-winning Long Beach Development Services Department sets a standard for high-quality, innovative urban planning and livability efforts that create more progressive and sustainable communities within the diverse City of Long Beach, CA. Through a variety of development, code enforcement, housing and neighborhood services and building activities, the Department builds a better future for the city while also honoring its unique past. For more information, visit longbeach.gov/lbds. Like our Facebook page and follow us on Twitter and Instagram.