Type of Program:
The Affordable Housing Development Program (AHDP) supports the construction of affordable residential units to increase the availability of rental units for those in core housing need.
Comments on Funding:
Funding is in the form of forgivable loans of $55,000 per unit.
Loan forgiveness period will be negotiated upon approval of the project but will range from 10-25 years.
Forgivable loans for projects led by private entrepreneurs will be limited to a maximum of 50% of the units in their project.
Municipalities, development corporations and non-profit groups may be eligible for forgivable loans for 100% of the units in their project.
When It Ends:
The applicant must:
Applicant must submit:
the Affordable Housing Development Program Application Form,
a proposal that must achieve a minimum score of 70 points out of 100 to be considered for project funding.
Applicants must submit together with the application form a proposal including:
Other Things to Note:
For more information applicants must contact Cody Clinton, Department of Social Development and Housing, 902-218-6643.
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