§ 53594

(a) A county shall use grants awarded pursuant to this part for all of the following:

(1) Acquisition funding, new construction, or reconstruction and rehabilitation.

(2) Project based operating assistance.

(3) A county’s administrative costs, as determined by the department, of at least 5 percent of the total grant awarded.

(b) Project based operating assistance may include either or both of the following:

(1) Long-term rental assistance for periods of up to five years, subject to renewal grants.

(2) A capitalized operating reserve for at least 15 years to pay for operating costs of an apartment or apartments receiving capital funding to provide supportive housing to people experiencing homelessness.

(c) A county awarded grant funds pursuant to this part shall comply with federal Housing Trust Fund regulations.

(Added by Stats. 2017, Ch. 777, Sec. 2. (AB 74) Effective January 1, 2018.)