The Department of Housing and Community Development (DHCD) announced the start of the winter 2018 affordable housing competition for rental projects. The deadline for submitting applications to the winter 2018 competition will be February 15, 2018. On or before that date, DHCD will accept applications from sponsors whose projects were approved in December 2017 through the Department’s pre‑application process. Only projects with December 2017 pre-approvals will be considered during the winter 2018 competition. The February 2018 round is open to sponsors of multi-family rental projects of 20 units or more.
Priority for funding will be given to projects that provide affordable housing for homeless families or individuals. In order to meet this priority, a sponsor must reserve at least 10% of the units in the project for homeless families or individuals earning less than 30% of area median income.
The tax credit and subsidy resources available during the winter 2018 competition include the following:
- Federal Low Income Housing Tax Credits
- Massachusetts State Low Income Housing Tax Credits
- HOME Investment Partnerships Program
- Affordable Housing Trust Fund
- Housing Stabilization and Investment Trust Fund
- Capital Improvement & Preservation Trust Fund
- Housing Innovations Fund
- Facilities Consolidation Fund
- Community-Based Housing
- Commercial Area Transit Node Housing Program
- Project-Based Assistance through Section 8 and Massachusetts Rental Voucher Program
New Resource -- The Affordable Housing Preservation and Development Fund
DHCD is also making available for the first time a new resource -- the Affordable Housing Preservation and Development Fund (AHPD). As approved by the U.S. Department of Housing and Urban Development, AHPD will be made available from part of DHCD’s Moving to Work (MTW) authority as outlined the 2018 MTW Plan.
DHCD will make available up to $4,000,000 of AHPD in support of multi-family rental units intended to serve households of two or more persons with household income below 30% of the Area Median Income (AMI). In awarding AHPD funds, DHCD will give priority to production projects and experienced sponsors -- either non-profit or for-profit -- who intend to provide services to extremely low income (ELI) tenants in units supported by AHPD.
Pre-Application and Application Deadlines
The deadline for submission of pre-applications to the winter 2018 affordable housing competition for rental projects will be November 30, 2017. The deadline for submission of all applications to the winter 2018 affordable housing competition for rental projects will be February 15, 2018. All applications must be received at the Department on or before that date. Sponsors may submit applications in February 2018 only if the Department approves their pre-applications in December 2017.
For more information, please download the NOFA by clicking here.