The Fund established the Development Financing Program to provide financing for a variety of housing and nonresidential development projects. The various programs of the Development Financing Program include:
- Economic Development Program - This program encourages private investment in economic development in West Virginia and complements other publicly funded economic development programs offered in the State.
- Leveraged Loan Program - This program provides construction and/or permanent financing for new multifamily rental developments or those requiring acquisition and rehabilitation.
- Mini-Mod Rehabilitation Program - This program provides landlords affordable financing to renovate existing apartment units.
- Construction Loan Incentive Program (CLIP) - This program provides short term, below market interest rate financing for the construction of new multi-family rental developments, to be replaced by permanent loan financing upon completion.
- Demolition Program - This program provides cities and counties with resources to acquire and remove vacant and dilapidated properties from their communities.
- Constructing Affordable Sensible Homes (CASH) - This program provides a guaranteed purchase contract to builders and/or modular home manufacturers for speculative homes constructed in West Virginia with a pre-construction appraised value not exceeding $150,000.
- Land Development - This program provides low fixed rate interest loans to builders and developers to buy land and install infrastructure improvements.
Three Field Service Managers cover the State to provide information and technical assistance for each of the above-mentioned programs.
Contact the Field Service Manager for your region.
Low-Income Housing Tax Credit Program (LIHTCP)
The Fund is responsible for administering the Low-Income Housing Tax Credit Program, which generates low-income residential rental units by encouraging private investment through federal tax credits.
View more information on the Low-Income Housing Tax Credit Program (LIHTCP).
Community Housing Development Organization (CHDO)
Proposals will be reviewed for any project that complies with HUD regulations. Of the HOME funds administered by the Fund, 15% are set aside for CHDO organizations to use in the development of housing opportunities for lower income West Virginia families. These funds are allocated to CHDO organizations by an RFP process.
View more CHDO information.
HOME CHDO: REQUEST FOR PROPOSAL 2008-01
HOME CHDO: Request For Proposal 2008-01
Preliminary HOME CHDO Application (fillable)
Homeownership Proposal Packet
Homeownership Proposal Form (fillable)
Rental Proposal Packet
Rental Proposal Form (fillable)
HOMErent: REQUEST FOR PROPOSAL 2008-02
HOMErent Request for Proposal 2008-02
HOMErent Application (fillable)
HOMErent Proposal Form (fillable)
HOME Rents and Limits
2008 HOME Per Unit Subsidy Limits
HOME Setup and Completion Forms