CA AB2441

Establishes the Workforce Housing Pilot Program administered by the Department of Housing and Community Development to award grants for predevelopment costs, acquisition, construction, or rehabilitation of rental housing serving persons and families earning up to 120 percent of area median income

Eligible recipients include cities in high-cost counties as defined by the U.S. Department of Housing and Urban Development, cities experiencing rising home and rental prices, and qualified 501(c)(3) nonprofit organizations operating housing trust funds applying jointly with cities

Requires all grant funds to be matched dollar-for-dollar, except for eligible recipients suffering hardship as determined by the Department of Finance

Mandates the department to hold public hearings on funded projects, maintain affordability restrictions for at least 55 years, and submit annual reports to the Legislature on grants awarded, projects funded, units created, and matching funds received

Program operates until all appropriated funds are awarded, then requires submission of final report to Legislature evaluating housing needs in funded areas and recommending whether the pilot program should continue