2023 Local Housing Trust Fund Program Notice of Funding Availability
Details
Purpose:
The principal goal of this program is to provide grants to Local Housing Trust Funds established by cities and counties, Native American Tribes, and incorporated 501(c)(3) nonprofit organizations to increase the supply of housing to households with incomes of 80 percent or less of area median income.
Description:
Program Funds awarded under this NOFA shall be used to provide construction loans and/or permanent financing loans at simple interest rates of no higher than three percent per annum, for payment of predevelopment costs, acquisition, construction, or rehabilitation as well as to construct, convert, reconstruct, rehabilitate, and/or repair Accessory Dwelling Units (ADUs) or Junior Accessory Dwelling Units (JADUs).
Eligible activitiesPursuant to Guidelines, Section 105, the LHTF funds shall be allocated in compliance with all of the following: 1. To provide construction loans and/or permanent financing loans at simple interest rates of no higher than three percent per annum, for payment of predevelopment costs, acquisition, construction, or rehabilitation associated with Affordable rental housing projects, Emergency Shelters, Transitional Housing, Permanent Supportive Housing, homebuyer/homeowner projects to purchase for-sale housing units or to rehabilitate an owner-occupied dwelling. Funds may also be used for the construction, conversion, repair, and rehabilitation of Accessory Dwelling Units or Junior Accessory Dwelling Units. 2. Administrative expenses may not exceed five percent of program Program Funds and Matching Funds.3. A minimum of 30 percent of program Program Funds and Matching Funds, after deducting administrative expense, shall be expended on assistance to Extremely Low-Income Households. To comply with this requirement, dwelling units or shelter beds must be Affordable to and restricted for Extremely Low-Income Households with household income of no more than 30 percent of Area Median Income (AMI). 4. No more than 20 percent of the program Program Funds and Matching Funds, after deducting administrative expense, shall be expended on assistance to Moderate-Income Households. To comply with this requirement, dwelling units must be Affordable to and restricted for Moderate-Income Households with household income of no more than 120 percent of AMI. 5. The remaining program Program Funds and Matching Funds shall be expended on assistance to Lower-Income Households. To comply with this requirement, dwelling units must be Affordable to and restricted for Lower-Income Households with household income of no more than 80 percent AMI.
Funding Activity requirements LimitsPursuant to Guidelines, Section 103, the funding minimums, and maximums apply as detailed below:-The minimum application request by an Applicant that is an existing Existing Local Housing Trust Fund shall be $1 million. -The minimum application request by an Applicant that is a new New Local Housing Trust Fund, but which is not a Regional Housing Trust Fund, shall be $500,000.-The minimum application request by an Applicant that is a new New Local Housing Trust Fund, which is also a Regional Housing Trust Fund, and which is utilizing Permanent Local Housing Allocation Funds as Matching Funds, shall be $750,000. -The maximum application request for all Applicants shall be $5 million.
Eligibility Requirements
Eligible Applicants:
- Nonprofit
- Public Agency
- Tribal Government
Local Housing Trust Funds established by cities and counties, Native American Tribes, and incorporated 501(c)(3) nonprofit organizations
Matching Funding Requirement:
Must be from dedicated sources of funding, such as taxes, fees, or loan repayments, or public or private contributions. Lines of credit and loans received by the Local Housing Trust Fund, or Funds restricted for housing use by state or federal law are not eligible sources.
Important Dates
Funding Details
How to Apply
State agencies/departments recommend you read the full grant guidelines before applying.
Resources
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