Multifamily Programs Overview
Through the West Virginia Housing Development Fund's Multifamily Division, developers can access funding from federal and other sources to build new or renovate existing multifamily rental properties in West Virginia. See below for descriptions of each program and learn how these programs work together to advance our mission of providing safe and affordable housing.
Low-Income Housing Tax Credit Program (LIHTC)
The Fund administers the Low-Income Housing Tax Credit Program, which generates low-income residential rental units by encouraging private investment through federal tax credits.
HOME Investment Partnerships Program (HOME)
The Fund has administered the HOME Investment Partnerships Program (HOME) since 1992. The primary objectives of the program are:
- Expand the supply of decent, safe, sanitary and affordable housing, primarily rental housing
- Strengthen the abilities of state and local governments to provide housing
- Ensure that federal housing services, financing, and other investments are provided to state and local governments in a coordinated, supportive fashion
- Expand the capacity of nonprofit community-based housing development organizations; and to leverage private sector participation in financing affordable housing.
National Housing Trust Fund (HTF)
The Fund administers the National Housing Trust Fund Program (HTF). In general, under the HTF program, HUD allocates funds by formula to eligible states to increase and preserve the supply of decent, safe, sanitary, and affordable housing, with primary attention to rental housing for extremely low-income and very low-income households, including homeless families.
Affordable Housing Fund (AHF)
The Affordable Housing Fund Program is designed to provide financial assistance to eligible organizations that focus on providing and preserving affordable housing in West Virginia. The program receives a $20 transfer fee from residential real estate transfers and the sale of manufactured homes.
Home4Good
Home4Good is a program developed by the Federal Home Loan Bank Pittsburgh and the West Virginia Housing Development Fund to address unmet and critical needs in the existing Continuums of Care across the state. The initiative provides a flexible source of funding for organizations working to address homelessness in West Virginia with the primary objective of ensuring that, if an individual is faced with homelessness, it is rare, brief and non-recurring.
Multifamily Loan Program (MLP)
The Multifamily Loan Program provides construction and/or permanent financing for new multifamily rental developments or those requiring acquisition and rehabilitation. Projects financed under this program are expected to receive portions of their funding from equity raised through the syndication of Low-Income Housing Tax Credits or other leveraging sources.
