The Georgia Housing and Finance Authority (GHFA) hereby notifies interested applicants of a Notice of Funding Availability (NOFA) for funds allocated from the Georgia National Housing Trust Fund (NHTF) program for the construction, preservation or acquisition/rehabilitation of multifamily rental properties, to be allocated from the following sources: The Georgia National Housing Trust Fund Program, DCA HOME CHDO Loan Program, and DCA HOME CHDO Predevelopment Loan Program. All NHTF units will be targeted for use by Extremely Low-Income (ELI) households with incomes at or below 30% of Area Median Income (AMI).
In releasing this Notice of Funding Availability (NOFA), the goal of GHFA is to facilitate construction, rehabilitation, and acquisition/rehabilitation of affordable multifamily rental housing by providing gap financing at rates below those charged by commercial lending institutions.
Under this NOFA an Applicant may request a combined NHTF and HOME CHDO award in one proposed Application, an NHTF award request only, HOME CHDO award request only and/or a HOME CHDO Predevelopment Loan with any option above that includes a HOME CHDO award.
A copy of the state of Georgia's National Housing Trust Fund Allocation Plan, this NOFA, and other related materials are available on the website. Program updates and Frequently Asked Questions will be posted to this site on a regular basis. All inquires should be directed to NHTF@dca.ga.gov.
DCA anticipates that approximately $2,983,151 will be available under this NOFA for the NHTF funds and approximately $2,000,000 for HOME CHDO funds. Applications requesting HOME CHDO fund can also request an additional $50,000 CHDO Predevelopment loan.
Applications under this NOFA will be accepted for the first round beginning on February 20, 2017 and ending on March 10, 2017.
Applications for funding will be accepted at the Georgia Department of Community Affairs, 60 Executive Park South, NE, Atlanta, GA 30329 until the deadline of 4:00 p.m. EST on the dates described above. Applicants should label the file "NHTF NOFA." One complete application package should be submitted on a flash drive. Any application received after the deadline will be deemed ineligible and will not be considered for funding.
