DEPARTMENT OF AGRICULTURE
Rural Housing Service
[Docket No.: RHS–24–MFH–0006]
Notice of Funds Availability (NOFA) for the Multifamily Housing Preservation and Revitalization Demonstration Program (MPR) and for Section 515 Subsequent Loans for Preservation Activities for the Fiscal Year (FY) 2024
AGENCY: Rural Housing Service, United States Department of Agriculture (USDA).
ACTION: Notice of Funds Availability (NOFA).
The U.S. Department of Housing and Urban Development (HUD) has announced a new Notice of Funds Availability (NOFA) aimed at supporting the preservation and revitalization of multifamily housing across the nation. This initiative seeks to address the growing need for affordable, quality housing by providing financial assistance to eligible projects that enhance and sustain existing multifamily housing stock.
Key Highlights:
- Purpose of the NOFA:
- Preservation: Funds are designated to maintain and repair existing multifamily housing units, ensuring they remain safe, habitable, and affordable for residents.
- Revitalization: Support is available for projects that renovate and upgrade housing facilities, incorporating energy-efficient technologies and modern amenities to improve living conditions.
- Eligibility Criteria:
- Applicants: Nonprofit organizations, public housing authorities, and private developers with a track record in managing multifamily housing projects.
- Projects: Must focus on preserving or revitalizing multifamily housing units, particularly those serving low- to moderate-income families.
- Funding Details:
- Total Allocation: The NOFA allocates a significant amount of federal funds (specific amount to be confirmed) aimed at maximizing the impact on housing preservation and revitalization efforts.
- Grant Types: Includes both direct grants for project implementation and funding for technical assistance to ensure successful project execution.
- Application Process:
- Submission Deadline: Interested parties must submit their applications by the specified deadline (exact date to be verified in the NOFA).
- Required Documentation: Applicants need to provide detailed project proposals, budgets, and evidence of past project successes.
- Evaluation Criteria: Proposals will be assessed based on factors such as project feasibility, potential impact, sustainability, and alignment with HUD’s objectives.
- Project Implementation:
- Timeline: Selected projects will follow a structured timeline from funding receipt to project completion, with regular reporting requirements to ensure accountability.
- Support Services: HUD may offer additional support services, including technical assistance and project management guidance, to facilitate successful outcomes.
- Impact Goals:
- Affordable Housing: Increase the availability of affordable housing units, reducing homelessness and housing insecurity.
- Community Development: Enhance neighborhood stability and economic growth by improving housing infrastructure.
- Sustainability: Promote environmentally sustainable practices in housing renovations, contributing to long-term energy savings and reduced carbon footprints.
How to Apply:
Interested organizations should visit the official Federal Register website here to access the full NOFA document. This resource provides comprehensive guidelines, application forms, and additional details necessary for submission.
Conclusion:
This NOFA represents a significant opportunity for organizations dedicated to improving multifamily housing. By securing federal funding, projects can achieve meaningful enhancements that benefit communities and ensure the longevity of affordable housing options. Stakeholders are encouraged to review the NOFA carefully and consider applying to contribute to the vital mission of housing preservation and revitalization.
For the most accurate and detailed information, please refer directly to the Federal Register Notice.