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:
Constructing Affordable Sensible Homes Program (CASH) - Encourages builders and modular home dealerships to construct and market single family homes.
Demolition Program - Provides cities and counties with resources to acquire and remove vacant and dilapidated properties from their communities.
The HOME Program - The primary objective of the HOME program is to expand the supply of decent, safe, sanitary and affordable housing, primarily rental housing; to strengthen the abilities ofstate and local governments to provide housing; to ensure that federal housing services, financing, and other investments are provided to state and local governments in a coordinated, supportive fashion; to expand the capacity of nonprofit community-based housing development organizations; and to leverage private sector participation in financing affordable housing.
Land Development Program - Provides low, fixed-rate interest loans to builders and developers to buy land and install infrastructure improvements to create buildable subdivision lots and commercial developments.
Leveraged Loan Program - Provides construction and/or permanent financing for new multifamily rental developments or those requiring acquisition and rehabilitation.
Low-Income Housing Tax Credit Program (LIHTCP) - Generates low-income residential rental units by encouraging private investment through federal tax credits.
Mini-Mod Rehab Program - Provides landlords affordable financing to renovate existing apartment units.
Special Assistance Lending Program (SALP) - A multi-purpose finance program designed to provide financial assistance to nonprofit organizations engaged in the development and operation of programs and properties to improve housing opportunities and promote the general welfare of low-income and special needs populations. The disbursement timeframe for this program has expired.
Tax Credit Assistance Program - The Tax Credit Assistance Program (“TCAP”) was provided to aid stalled Low-Income Housing Tax Credit Program properties. The disbursement timeframe for this program has expired.
Tax Credit Exchange Program - Allowed the Fund to elect to exchange portions of its State Housing Credit Ceiling for cash assistance from the U.S. Treasury in order to provide funds to assist in the financing of the development of certain Low-Income Housing Tax Credit Program properties. The disbursement timeframe for this program has expired.