Affordable Rental Development Program
The City of Raleigh's Affordable Rental Development Program provides gap financing to developers for building, purchasing, and rehabilitating affordable multifamily rental housing. awards $15.0M.
Key Facts
- Award amount
- $15.0M
- Deadline
- Rolling / not specified
- Geography
- North Carolina
- Categories
- Community Development
- Status
- Open
About This Grant
The City of Raleigh's Affordable Rental Development Program provides gap financing to developers for building, purchasing, and rehabilitating affordable multifamily rental housing. The program leverages City funds with federal low-income housing tax credits, bond financing, conventional financing, and other public funding sources. Funds are made available annually through a Notice of Funding Availability (NOFA). The City also offers a Small-Scale Rental Development program open to non-profit...
Full requirements and application instructions: official listing.