City of Albuquerque: Affordable Single-Family Home Ownership Housing Development
The City of Albuquerque will fund innovative and effective proposals interested in developing single-family home ownership units to further affordable housing opportunities to households at or below 80% of the Area Median Income (AMI). The City is offering City-owned property and the available sources of funding for the development of a single-family, Affordable Housing project. The proposed development will provide that a minimum of 51% of all units are affordable to households at/or below 80% AMI, and any other applicable statutory and/or regulatory requirements related to the Community Development Block Grant (CDBG) funds which were used to acquire the property.
Proposed affordable housing development projects need to demonstrate the capacity to obtain additional project financing from other federal or state programs, private bank loans, etc. The development should be pedestrian friendly and designed to create a sense of community through a site plan including building arrangement, amenities, and open space appropriate to the needs of populations to be served. The City has recently completed a series of City-wide Community Needs Assessments. The City sought input from Albuquerque residents and program stakeholders to rate the need in Albuquerque for additional or improved housing facilities, housing services, infrastructure, community facilities, community services, special needs population services, and business and job services of low-income individuals and families, homeless individuals and families, and youth and/or other persons with special needs. Although these are not the only populations that are eligible for and the focus of City funding, they are priorities. Therefore, when applicable to the specific project, address in the proposal narratives how proposed projects will support the identified priorities.
Amount: Approximately $2,355,996 is available. Award amounts are not listed.
Eligibility: An agency which is a unit of state or local government and/or an agency currently incorporated as a nonprofit corporation, duly registered and in good standing with the State of New Mexico Public Regulation Commission, which has not-for-profit status under 501(c)(3) of the U.S. Internal Revenue Service Code and which has demonstrated capability in providing the services for which it is applying.
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