User:Ards 2004/Project Roomkey

After roughly three months of existence, the state government saw an opportunity to transition Project Roomkey into a more permanent measure. On July 16, 2020, California Governor Newsom made Homekey known to the public by announcing that regional governments in California could begin applying for Homekey grants of up to $600 million. These grants would help local governments acquire motels, hotels, along with other large properties to create permanent housing for homeless individuals. In the first 6 months of Homekey's existence, the state was able to own 94 properties all over different areas of California. In July of 2021, Governor Newsom announced that $2.75 billion dollars would be added to the funding of Project Homekey.

As of 2023, the project has a maximum spending limit of $200,000 per housing unit, and alongside this, there is a 8-month deadline from the moment federal funding is received by these local agencies to when they spend that money on these housing units. The state government believes that by doing so, the project can be both cost-effective and efficient.

Since July of 2020, Project Homekey has funded 14,040 homes across the state, in 231 projects. Alongside this, they have a projected goal of 142,074 households to be served over the full lifetime of Project Homekey.

On November 15, 2023, it was announced by the Department of Housing and Community Development that an additional $114 million in funding would be provided to the third phase of Project Homekey, ensuring that the project's operations continue.