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Rural Housing Preservation and Revitalization Demonstration Loans and Grants

 
Catalog of Federal Domestic Assistance Number: 10.447
Sponsors
U.S. Department of Agriculture, USDA Rural Development
Deadlines
Apr 30, 2019
Contact

A list of State Rural Development Offices is available on the program website.

Purpose

This program provides funding tools to restructure loans for existing rural rental housing and off-farm labor housing projects to help improve and preserve the availability of safe affordable multi-family rental housing for low income residents in rural areas.

Restructuring tools include:

  • Grants
  • No interest loans
  • Soft-second loans
  • Debt deferral

Funds may be used to:

  • Preserve and improve existing rural rental housing and off-farm labor housing projects in order to extend their affordable use without displacing tenants through increased rents
  • Complete a third party Capital Needs Assessment (CNA) to identify project needs
Eligibility

Eligible applicants are current multi-family housing project owners with rural rental housing and off-farm labor housing loans. Borrowers must continue to provide affordable rental housing for 20 years or the remaining term of any USDA loan, whichever is later.

Geographic coverage
Nationwide
Amount of funding

No amount specified.

Application process

A link to the application instructions is available on the program website. Applicants must submit an electronic pre-application.

Selected applicants will be invited to submit a full proposal.

Corrected application instructions were published in the Federal Register on September 18, 2018.

Tagged as
Capital funding ยท Housing and homelessness



For complete information about funding programs, including your application status, please contact funders directly. Summaries are provided for your convenience only. RHIhub does not take part in application processes or monitor application status.