The City of Raleigh’s Housing & Neighborhoods Department has announced the availability of funds under the City’s Rental Development Program for qualified developers to submit proposals for the new construction, acquisition, and/or rehabilitation of affordable multifamily rental units. Funds are available from local funding sources, such as the 2020 Affordable Housing Bond, and federal HOME funds.
Find the details of Notice of Funding Availability (NOFA) below.
Approximately $24 million in affordable rental development gap financing is available. Rental units assisted with these funds must be affordable to households with incomes at or below 80% of the Area Median Income (AMI). Please view the NOFA for application deadlines, schedules, and information about eligible projects.
How to Apply
Applications will only be accepted through the City’s online application portal, Neighborly Software. To get started, visit the online portal and register for a new account. Hard-copy or emailed applications will not be accepted.
Questions?
Contact Robin Reese, Housing Programs Manager with questions and to schedule a pre-submission meeting. She can be reached at robin.reese@raleighnc.gov or 919-996-6976.
Source: Raleigh
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