The City’s Office of Affordable Housing is seeking applications for Affordable Housing Trust Fund (AHTF) to support housing solutions for people experiencing homelessness, those at risk of homelessness or who are precariously/unsuitably housed, those at risk of losing their housing either because of eviction, foreclosure or safety and condition issues, including homeowners, or renters/homeowners who are heavily cost burdened.
Donor Name: City of Santa Fe
State: New Mexico
City: Santa Fe
Type of Grant: Grant
Deadline: 02/17/2023
Size of the Grant: $3,000,000
Details:
The primary purpose of the Affordable Housing Trust Fund (AHTF), as codified in SFCC 26-3, is to increase and preserve the supply of affordable housing in Santa Fe available to low- and moderate income residents. The New Mexico Affordable Housing Act determines eligible uses for the fund; eligibility criteria for applicants; and application requirements in order for the disbursement of these funds to be compliant with the State of NM’s Anti-Donation Clause. The New Mexico Mortgage Finance Authority (MFA) is responsible for ensuring compliance with the Act through the Affordable Housing Act Rules (the “Rules”). The NM Affordable Housing Act allows the City of Santa Fe to donate, provide, or pay for the costs of the following:
- Land upon which affordable housing will be constructed.
- An existing building that will be renovated, converted, or demolished and reconstructed as affordable housing.
- The costs of acquisition, development, construction, financing, and operating or owning affordable housing.
- The costs of financing or infrastructure necessary to support Affordable Housing.
Funding Information
For the FY23-24 year, a balance of $3,000,000 in the AHTF is available. Applications will be reviewed and funding recommendations will be made by the City’s Community Development Commission (CDC). Awards will be based on the applicant’s demonstration of how the proposed project meets the City’s priority of preventing homelessness, ending homelessness, and/or stabilizing the housing situations of those who are at risk of losing their housing. This may include the construction, repair, or preservation of housing units or the conversion of structures into affordable housing. The intent is to serve the entire spectrum of housing needs including those who are currently experiencing homelessness, renters, homebuyers, and homeowners.
Eligibility Criteria
- Funding is available to developers and sponsors of affordable housing, including partnerships, corporations, limited liability companies, joint ventures, public/private partnerships and nonprofit organizations that are organized under state, local, or tribal laws and can provide proof of such organization.
- Eligible applicants must have proven financial capacity and organizational experience to carry out the activities described in the proposal submitted to receive an AHTF allocation.
- The MFA Affordable Housing Act Rules require the City of Santa Fe certifies that the applicant is a “Qualifying Grantee”, as defined by the MFA Housing Act Rules prior to approving an award, based on the Applicant Eligibility and Application requirements described in the Submittal Requirements. Specifically the City will certify that it has completed its review of the application determined that the application is complete; determined that the requirements listed in this document are met. A “Qualifying Grantee” is defined as:
- An individual who is qualified to receive assistance pursuant to the Act and is approved by the City of Santa Fe.
- A governmental housing agency, regional housing authority, tribal housing agency, corporation, limited liability company, partnership, joint venture, syndicate, association or a nonprofit organization that:
- Is organized under State, local, or tribal laws and can provide proof of such organization.
- Has a functioning accounting system that is operated in accordance with generally accepted accounting principles or has designated an entity that will maintain such an accounting system consistent with generally accepted accounting principles.
- Has among its purposes significant activities related to providing housing or services to persons of low-to-moderate income.
- Has no significant outstanding or unresolved monitoring findings from the City of Santa Fe, the MFA, HUD, or its most recent independent financial audit, or if it has any such findings, it has a certified letter from the City of Santa Fe, the MFA, HUD, or auditor stating that the findings are in the process of being resolved.
- If a non-profit organization, has no part of its net earnings inuring to the benefit of any member, founder, contributor, or individual.
- Is approved by the City of Santa Fe as a “Qualified Grantee” as determined by the submittal of materials required in this solicitation.
For more information, visit City of Santa Fe.
