Oregon Housing and Community Services (OHCS) is pleased to release a 2015 Notice of Funds Availability (NOFA) for gap financing. It can be viewed here. Applications are due on September 4, 2015.
The Gap Financing NOFA will include the allocation of the following funds to build multifamily affordable housing: $12,000,000 in General Housing Account Program (GHAP) funds, $8,000,000 in Housing Development Grant Program (HDGP) funds, $5,000,000 in Oregon Affordable Housing Tax Credit (OAHTC), $3,000,000 in Low Income Weatherization (Wx) funds. Eligible Projects include: Small Projects: New construction or acquisition/rehabilitation projects of thirty-five (35) units or less; Construction Defect Projects: OHCS previously funded projects that have documented construction defects where funds allocated will be used to resolve defects to original specifications; and Group Home or Special Needs Projects: New construction or acquisition/rehabilitation of group homes targeted to special needs populations. The Department has soft set asides for each of the three focus areas: $9,000,000 for small projects; $9,000,000 for construction defect projects; and $2,000,000 for group homes or special needs projects.
