In an effort to increase the use of Tax-Exempt Bonds and private investment in affordable multifamily housing, as well as to stimulate the construction or rehabilitation of quality affordable rental housing, Kentucky Housing Corporation (KHC) has issued a draft Notice of Funding Availability (NOFA) for Gap financing to be utilized with Tax-Exempt Bonds. KHC is soliciting public comments on the draft NOFA.
The draft NOFA is for a combined $19 million, consisting of KHC’s Equity Bridge Loan (EBL), HOME Investment Partnerships Program (HOME) Gap funding, and Affordable Housing Trust Fund (AHTF) Gap funding. The full draft of the NOFA is located on KHC’s website, under Development, Multifamily. All comments must be submitted in writing and emailed to Andrew Hawes at ahawes@kyhousing.org, by Friday, June 8, 2015.
