The City of Detroit’s Housing and Revitalization Department (HRD) is pleased to release this Notice of Funding Availability (NOFA) to provide affordable housing developers and owners the opportunity to apply for financial support for projects that address housing challenges in Detroit neighborhoods.
Donor Name: City of Detroit
State: Michigan
City: Detroit
Type of Grant: Grant
Deadline: 08/22/2022
Size of the Grant: $5,000,000
Details:
Through this NOFA, HRD is making up to $10,000,000 of funding available to support the preservation, rehabilitation and/or development of affordable housing units in the city of Detroit.
This notice specifically relates to the availability of financing tools made available through the City of Detroit’s Affordable Housing Development Program (AHDP) and through funding received from the U.S Department of Housing and Urban Development (HUD) including:
- the HOME Investment Partnership Program (HOME),
- the Community Development Block Grant Program (CDBG), and
- the HOME – American Rescue Plan (HOME-ARP) Program.
The Housing Rehabilitation and Development Program aims to strengthen public-private partnerships in order to achieve the following goals:
- Produce mixed-use, mixed-income multifamily housing developments in the city’s neighborhoods through both new construction and adaptive reuse or rehabilitation of existing structures.
- Preserve affordability in both rent restricted and naturally occurring affordable multifamily housing stock.
- Preserve affordability in both rent restricted and naturally occurring affordable singlefamily housing stock through homebuyer assistance.
- Develop supportive housing for homeless individuals and families.
- Prevent homelessness through non-profit initiatives.
- Prepare for, prevent, and respond to coronavirus.
- Provide opportunities for and support development to first-time, small-scale, community-based organizations/entities.
The objective of the pre-development program is to support developers with pre-development costs and technical assistance for affordable multifamily and mixed-use projects. The goal of this program is to support Community Housing Development Organizations (CHDO), Community-Based Development Organizations (CBDO), For-Profit/Start-up developers, Nonprofit developers and emerging Detroit-based developers that typically have less access to capital, so they can be better prepared to apply to future rounds of the HRD Notice of Funding Availability (NOFA) for HOME/CDBG funding sources.
Funding Information
This NOFA round includes the following programs, categories, and available funding amounts:
- Pre-development Loan Program: $1,000,000
- Affordable Housing Development Program
- Multifamily Development Category: $3,000,000
- Supportive Housing Category: $5,000,000
- Homebuyer Initiatives Category: $1,000,000.
Eligibility Criteria
- Applicants will be required to demonstrate that they possess the capacity to complete the specific project as proposed, and must break ground within two (2) years of closing on the predevelopment financing. Capacity may be demonstrated by evidence of prior work of similar scale and complexity being successfully completed; participation in capacity building program deemed acceptable to HRD; and/or through a member who possess the required capacity.
- The proposals will also be reviewed for feasibility. Close attention will be paid to the requirements of any and all proposed financing sources and subsidies, and compared to the proposed programming and uses.
- Special consideration will be made for Detroit based developers.
For more information, visit City of Detroit.
