Massachusetts Department of Housing and Community Development: Notice of Funding Availability
The Massachusetts Department of Housing and Community Development (DHCD) announced the start of their summer 2013 affordable housing competition for rental projects. The DHDC will accept applications from sponsors whose projects were pre-approved in June 2013 through DHCD's pre-application process.
The capital resources available during the summer 2013 competition include:
Federal Low Income Housing Tax Credits (LIHTC)
Massachusetts State LIHTC. Note: there is an application limit
HOME Investment Partnerships Program (HOME) monies in combination with LIHTC or as a funding source without tax credits
Housing Stabilization and Investment Trust Fund (HSF) monies in combination with LIHTC or as a funding source without tax credit
Capital Improvement & Preservation Trust Fund (CIPF) monies in combination with LIHTC or as a funding source without tax credits
Housing Innovations Fund (HIF) monies as a funding source without LIHTC unless the sponsor intends to provide homeless units in conjunction with appropriate supportive services
Affordable Housing Trust Fund (AHTF) monies in combination with LIHTC or as a funding source without tax credits.
Facilities Consolidation Fund (FCF) monies in combination with LIHTC or as a funding source without tax credits. Although these monies are available on a rolling basis, developers also may submit applications for FCF during this funding round.
Community-Based Housing (CBH) monies in combination with LIHTC or as a funding source without tax credits. Although CBH funds are available on a rolling basis, developers may submit applications during this funding round. The regulations and guidelines for this program are available on DHCD's website.
Commercial Area Transit Node Housing Program (CATNHP/TOD) monies in combination with LIHTC or as a funding source without tax credits.
At present, DHCD contemplates the following total funding for the summer 2013 round:
HOME: approximately $4 million note: the Federal HOME program may be cut further during the federal budget process, which may affect funds for future projects
HSF: approximately $5 million
CIPF: approximately $5 million
HIF: approximately $5 million
CATNHP/TOD: approximately $5 million
Each sponsor will be limited to no more than two project applications for available resources. Each sponsor will be limited to one application for state LIHTC.
The deadline for submitting applications to the summer 2013 competition is the close of business on Friday, August 2, 2013. For more information please click here.
LIHTCMassachusettsState Tax Credits