Santa Monica Housing Office - Housing Trust Funds

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Along with rent control, inclusionary zoning, and the programs of the Housing Authority, allocation of resources from the Housing Trust Fund is one of the key drivers of preserving housing affordability levels in Santa Monica.

These funds come primarily from redevelopment loan repayments and the stream of ongoing revenue provided by the voter-approved sales tax, Measures GS/GSH.

View the current Housing Trust Fund Plan (effective through 2021). View the current Housing Trust Fund Guidelines (approved by Council in July 2021). View the Summary Report of Multifamily Housing Production and Housing Trust Fund Financing for FY18-19.

The City has prepared a 302(c)(4) Plan outlining its planned expenditures of Permanent Local Housing Allocation funding. View the Plan here.

The City has prepared a detailed status overview of several early-stage affordable housing developments to demonstrate the readiness of these developments for funding under the State's Local Housing Trust Fund ("LHTF") Program. The overview can be viewed here.

*** The City is currently not accepting applications for housing trust fund loans. ***

Pursuant to the adopted Housing Trust Fund Guidelines, the following items shall be posted within one week of becoming public:

  • the current Housing Trust Fund Guidelines; 
  • all documents generated and made public by the City Manager, the Housing Division, the Housing Commission, and the City Council pursuant to the affordable housing planning and reporting process; 
  • written explanation of the City's decisions to approve or deny loan applications; 
  • all loan commitment letters issued; 
  • all notices of the required public meeting following a loan commitment; and all annual reports provided by the Housing Trust Fund recipients. Staff shall ensure that the annual reports posted publicly shall redact any confidential or personal information. 

To receive email notifications when there is an update to this page, please click here, enter your information, and select Housing Commission. Notifications are available in an alternative format if you require a special disability-related accommodation. If that is the case, please contact the Housing Office at (310) 458-8702.

HOUSING TRUST FUND - LOAN COMMITMENTS

City's Decision on  Loan Applications

Loan Commitment  Letters Issued

Effective Date of  Commitment Letter

Notice of Public/Community  Meetings

Project Status

419 and 1616 Ocean Ave

419 and 1616 Ocean Ave 
(loan increase)

419 and 1616 Ocean Ave

(Loan Commitment Letter)

419 and 1616 Ocean Ave

(First Amendment to Loan)

October 10, 2017


September 30, 2020

November 6, 2017

Completed

1820 and 1826 14th St

1820 and 1826 14th St

(Acquisition/Predevelopment)

1820 and 1826 14th St

(Construction/Permanent Loan)

November 9, 2017

 

June 27, 2018

December 4, 2017

January 11, 2018

January 18, 2018

Completed

1342 Berkeley St 
(2017)

1342 Berkeley St (2022)


1342 Berkeley St (2023)

1342 Berkeley St (2024)

1342 Berkeley St

(Acquisition/Predevelopment)

1342 Berkeley St

(Construction/Permanent Loan)

1342 Berkeley St

(Construction/Permanent Loan)

1342 Berkeley St

(Construction/Permanent Loan Increase)

November 20, 2017


July 14, 2022

March 13, 2023

July 31, 2024

December 13, 2017

January 16, 2018

April 7, 2021

In Construction

 1445-1453 10th St

1445-1453 10th St

(Acquisition/Predevelopment)

1445-1453 10th St

(Construction/Permanent Loan)

August 15, 2018


June 21, 2019

September 5, 2018

November 14, 2018

Completed

2621, 2622, 2627 26th St

2621, 2622, 2627 26th St September 25, 2018

Not applicable; loan increase only

Completed

2120 Lincoln Blvd

2120 Lincoln Blvd

(Acquisition/Predevelopment)

2120 Lincoln Blvd

(Construction/Permanent Loan)

October 30, 2018


June 28, 2019

November 27, 2018

January 9, 2019

Completed

1819 Pico Blvd & 2024 19th St

1819 Pico Blvd & 2024 19th St

(Acquisition/Predevelopment)

1819 Pico Blvd & 2024 19th St

(Construction/Permanent Loan)

February 11, 2019



June 29, 2020

March 12, 2019

May 14, 2019

Completed

1834 - 1848 14th Street

1834 - 1 848 14th Street

(Acquisition/Predevelopment)

1834 - 1848 14th Street

(Construction/Permanent Loan)

April 22, 2019



March 5, 2020

May 21, 2019

July 16, 2019

August 1, 2019

Completed

1413 Michigan Avenue

1413 Michigan Avenue

(Acquisition/Predevelopment)

1413 Michigan Avenue

(Construction/Permanent Loan)

1413 Michigan Avenue

(Construction/Permanent Loan)

May 9, 2019


September 9, 2020


July 29, 2021

June 3, 2019

December 4, 2019 (ENG)

December 4, 2019 (SPA)

Completed

502 Colorado Avenue

502 Colorado (info sheet) September 25, 2019

Not applicable; loan increase only

Completed

2033-2101 Virginia Avenue

(Acquisition/Predevelopment)

2033-2101 Virginia Avenue

(Rehabilitation/Permanent Loan)

2033-2101 Virginia Avenue

(Acquisition/Predevelopment)

2033-2101 Virginia Avenue

2033-2101 Virginia Avenue

(Rehabilitation/Permanent Loan)

January 7, 2020

July 28, 2021

August 21, 2024

January 28, 2020 (ENG)

January 28, 2020 (SPA)

Pending

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