City of Santa Fe: Affordable Housing Trust FundDeadline: February 2, 2018
The Affordable Housing Trust Fund (AHTF) works to increase and preserve the supply of affordable housing for low to moderate income residents and local employees. To maximize the limited resources available to support local affordable housing efforts, funds repaid from revenue generating activities (repayment of liens, etc.), including principal and interest, will be reallocated to the AHTF and used to support future affordable housing programs and projects in the City of Santa Fe or properties which will be annexed into the City within six months of application.
The AHTF is allocated in conjunction with the City’s Community Development Block Grant (CDBG) funding cycle. Funds are disbursed in alignment with the City’s fiscal year: July 1 2018 to June 30, 2019. This allows applicants to leverage funding sources and coordinate programming as well as helping the City to maximize the efficiency in decision making.
Identified priority projects are:
- Rental vouchers: Provide supported rental vouchers (includes access to counseling, health services, case management, and other services) to renters earning less than 50% AMI
- Emergency shelters including permanent supported shelter housing: Development, construction, and preservation of shelter/permanent supported rental facilities, including infrastructure improvements
- Provision of rental units and support services for low income (up to 50% AMI) and extremely low income renters (less than 30% AMI): Acquisition, conversion, preservation, and new construction of tiered income multi-family rental properties, including infrastructure or one-time emergency rental assistance
- Downpayment assistance/increase of ownership opportunities: Down payment assistance in the form of soft-second mortgage that “buys down” principal amount of loan to lower monthly payment; and acquisition, conversion, preservation and new construction of homeownership housing
- Homeowner rehabilitation programs, energy efficiency upgrades, accessibility retrofits: Acquisition, conversion, and preservation of affordable housing that accommodates needs of current householders
Amount: A total allocation up to $400,000 is available. Of this amount, at least 50% ($200,000) must be allocated to projects that support homeownership per the AHTF Ordinance and Administrative procedures. The remainder will be allocated to projects that address the priorities identified in the solicitation.
Eligibility: Funding is available to developers and sponsors of affordable housing, including partnerships, corporations, limited liability companies, joint ventures, public/private partnerships and non-profit organizations that are organized under state, local, or tribal laws and can provide proof of such organization. Eligible applicants must have proven financial capacity and organizational experience to carry out the activities described in the proposal submitted to receive an AHTF allocation.
Note: A mandatory technical assistance training will be held on January 18, 2018 from 2:00 to 4:00 p.m. 500 Market Station, Suite 200, Santa Fe, NM 87501.