Opportunity Title:
Portfolio Reinvestment Program (PRP)
Description:
This funding provides loans to rehabilitate, capitalize operating subsidy reserves for, and extend the long-term affordability of department-funded housing projects that have an affordability restriction that has expired, that have an affordability restriction with a remaining term of less than five years, or are otherwise at risk for conversion to market rate. The goal is to preserve existing affordable housing.
Eligibility:
Business, Individual, Nonprofit, Public Agency, Tribal Government
Eligible applicants must be owners of eligible HCD-funded projects or must have been approved by HCD to acquire an eligible project and must meet all requirements for being a Sponsor and having site control.
Total Amount Available:
$285,000,000
Application Deadline:
July 18, 2022
Grant Management Associates has years of experience with opportunities like this one. Contact us today for a consultation.