Programs
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:
On-Site Septic System Program - This program is designed to help eligible households install, repair or replace on-site septic systems or connect to a public treatment system.
Leveraged Loan Program - Provides construction and/or permanent financing for new multifamily rental developments or those requiring acquisition and rehabilitation.
Mini-Mod Rehab Program - Provides landlords affordable financing to renovate existing apartment units.
USDA 538 Program - 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 - Provides cities and counties with resources to acquire and remove vacant and dilapidated properties from their communities.
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.
Low-Income Housing Tax Credit Program (LIHTCP) - Generates low-income residential rental units by encouraging private investment through federal tax credits.
Tax Credit Assistance Program - The Tax Credit Assistance Program (“TCAP”) is provided to aid stalled Low-Income Housing Tax Credit Program properties.
Tax Credit Exchange Program - Allows 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.
Community Housing Development Organizations (CHDO) - Promotes the development of affordable homeownership and rental housing projects.
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