DHCD Announces Homeownership NOFA - January 31, 2014

The Department of Housing and Community Development (DHCD) has issued a Notice of Funding Availability (NOFA) for project-based homeownership assistance.  The competition will be limited to two types of "highly ready" projects: new projects in areas of opportunity and neighborhood stabilization projects in Gateway cities or certain other weak market areas.  Local matching funds will be required.  The Department expects to award $4 million in housing bond funds through this competition.  It will hold an information session on February 18, with pre-applications due by March 7.  It will then accept full applications on an invitation only basis on April 17, 2014.  DHCD also anticipates accepting applications on a rolling basis for one or two larger (100+ unit) projects.