Site Acquisition Funding Initiative (SAFI)

The Site Acquisition Funding Initiative (SAFI) is designed to provide quickly accessible, revolving loan funds for acquisition and predevelopment costs to nonprofit developers committed to the production, rehabilitation, and preservation of affordable housing. SAFI leverages DHCD funds with private monies for the preservation of affordable housing.

Process

1. Non-profit organizations that are interested in participating as Developers in SAFI must submit a Statement of Qualifications to DHCD.
2. Upon receipt, DHCD will review the Statement of Qualifications, and the organization will be notified within three weeks of submission of the results.
3. If the Statement is approved, the non-profit organization will be notified in writing by DHCD of its approval and its designation as a participating Developer in SAFI. The Developer will then be eligible to submit a loan application for financing for a specific affordable housing development project to an approved Lender under SAFI. Applications for financing under SAFI must meet the requirements of DHCD’s Housing Production Trust Fund.
4. Statements of Qualifications for Developer participation in SAFI are accepted and reviewed by DHCD on a rolling basis at any time throughout the year. There is no stated deadline for submission of Statements of Qualifications.

SAFI Lenders

City First Bank of DC
1432 U Street NW
Washington, DC 20009
(202) 243-7100

Cornerstone, Inc.
1400 20th Street NW, Suite G-3
Washington, DC 20036
(202) 347-7808

Enterprise Community Loan Fund
10 G Street NE, Suite 450
Washington, DC 20002
(202) 649-3925

OpenDoor Housing Fund
8605 Cameron Street, # 200
Silver Spring, MD 20910
(301) 588-5533