News Release for Immediate Release
June 6, 2003
$35 Million Available for Affordable Housing Development
(Washington, DC) The Department of Housing and Community Development (DHCD) is making available $35 million in local Housing Production Trust Fund monies, federal HOME Investment Partnerships Program and Community Development Block Grant funds, and Low-Income Housing Tax Credits for developers committed to creating affordable housing.
DHCD is soliciting proposals for the new construction and substantial rehabilitation of rental and for-sale housing, the preservation of rental housing with expiring federal subsidies, elderly housing, and special needs housing. The Department supports projects that provide housing for extremely low- (less than 30 percent of area median income), very low- (between 30 and 60 percent of area median income), and low-income (less than 80 percent of area median income) families. DHCD will also provide limited financing for the development of community facilities that serve low and moderate income residents.
Proposals are to be submitted on or before 4 pm, Thursday, July 31, 2003. Four copies must be delivered to DHCD, Development Finance Division, 801 North Capitol Street, NE 2nd Floor, Washington, DC 20002. DHCD is expected to announce the developers selected to go forward to the underwriting stage in early October.
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