Multifamily Housing Program (MHP)
NEW Proposed Uniform Multifamily Regulation Changes.
Assist the new construction, rehabilitation and preservation of permanent and transitional rental housing for lower income households.
Deferred payment loans with a 55-year term; 3 percent simple interest on unpaid principal balance. Payments at 0.42 percent are due annually with the balance of principal and interest due and payable upon completion of loan term.
New construction, rehabilitation, or acquisition and rehabilitation of permanent or transitional rental housing, and the conversion of nonresidential structures to rental housing. Projects are not eligible if construction has commenced as of the application date, or if they are receiving 9 percent federal low-income housing tax credits.
MHP funds will be provided for post-construction permanent financing only. Eligible costs include the cost of child care, after-school care, and social service facilities integrally linked to the assisted housing units; real property acquisition; refinancing to retain affordable rents; necessary on-site and off-site improvements; reasonable fees and consulting costs; and capitalized reserves.
Local public entities, for-profit and nonprofit corporations, limited equity housing cooperatives, individuals, Indian reservations and Rancherias, and limited partnerships in which an eligible applicant or an affiliate of an applicant is a general partner. Applicants or their principals must have successfully developed at least one affordable housing project.
Applications are invited through the issuance of Notices of Funding Availability (NOFAs).
Related Programs and Publications
- SHMHP NOFA 2014 (PDF)
- SHMHP NOFA 2014 Amendment #1 (PDF)
- SHMHP NOFA 2014 Amendment #2 (PDF)
- SHMHP Power Point (PPT)
- MHP NOFA 2015 (PDF)
- MHP NOFA 2015 Amendment #1 (PDF)
- MHP NOFA PowerPoint (PPT)
- MHP Application Attachment (Rev. 6-16-15) (XLS)
- Universal Application (XLS)
- SHMHP Application Attachment - Rev. 10-24-14 (XLS)
- MHP Loan Closing Documents
- Development Cost Benchmarks (XLS)