The Louisiana Housing Corporation (LHC) will accept public comments on the proposed 2015 Fall Affordable Housing Initiative Notice of Funding Availability on Friday, August 28th at 12:00 p.m. (noon) following the 2016 Qualified Allocation Plan (QAP) public hearing. Interested and prospective applicants are encouraged to review and use the 2015 Spring Affordable Housing NOFA (available here) as a draft and basis for comments. Written comments may also be submitted via e-mail to HOME@lhc.la.gov.
During the 2015 Spring Home Investment Partnership Program (HOME) funding round, the LHC board awarded $6 million in federal HOME funds to four projects creating 159 HOME units. These HOME funds utilized in conjunction with tax exempt bonds and 4% credits will be used to construct or rehab 732 affordable housing units. A detailed list of the 2015 Spring HOME recipients is available here and online at www.lhc.la.gov. Federal HOME funds are a tool used as an incentive for the development of affordable housing, and this year there was more than twice the demand for this flexible gap funding source than was available. The availability of this critical financing source for affordable housing could become an issue if Congress proceeds with plans to virtually eliminate the HOME Program next year.
