On July 7, 2021 the DC Department of Housing and Community Development (DHCD) opened the second round of funding for the Oramenta Newsome Predevelopment Loan Program. The $2 million fund will assist Qualified Nonprofit Organizations (Nonprofit) that develop affordable housing and Limited Equity Cooperatives ("LEC" or "Cooperative") in the District of Columbia with early capital needed to apply for construction or rehabilitation funding through DHCD's Consolidated Request for Proposals.
Through the program, nonprofit developers can apply for a loan up to $100,000 per project to help cover a portion of eligible predevelopment soft costs. Please read the attached program guidelines for eligibility requirements and application instructions for further information on applying.
All application submissions and questions regarding the program should be directed to: [email protected]