CA AB1945

Establishes the Affordable Disaster Housing Revolving Development and Acquisition Program administered by the Department of Housing and Community Development to fund predevelopment, acquisition, construction, reconstruction, and rehabilitation of affordable housing in declared disaster areas affecting lower income households

Creates the Affordable Disaster Housing Revolving Development and Acquisition Loan Fund in the State Treasury to provide emergency short-term or temporary loans to Community Development Financial Institutions

Authorizes Community Development Financial Institutions to issue loans to nonprofit housing development corporations, tribally designated housing entities, and local government agencies for developing transitional or rental housing, mobilehome parks, and related facilities

Establishes eligible cost categories including real property acquisition, new construction or rehabilitation, property improvements to correct unsafe conditions, onsite and offsite improvements, development fees, consulting costs, operating costs, predevelopment costs, and capitalized reserves

Requires the Department of Housing and Community Development to establish an application process and adopt program guidelines before issuing any funding requests