This Solicitation opportunity from New Mexico was posted on July 1, 2024. The submission period has ended. Browse the details below for market research, or find similar active opportunities.
2024 Affordable Rental Housing Project Utilizing Workforce Housing Trust Funds
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The City of Albuquerque's Department of Health, Housing & Homelessness is allocating up to $9,456,656 from the local Workforce Housing Trust Funds, including $1,100,000 from the State of New Mexico Legislative Funding, to support the development of affordable multi-family rental housing projects. These projects can involve new construction, acquisition, rehabilitation, or preservation efforts, with the goal of creating or maintaining affordable housing options. The funding is intended to leverage additional financing sources such as Low Income Housing Tax Credits, HUD programs, and bank loans, emphasizing the importance of securing diverse funding streams for project viability. The funding will cover no more than 20% of each project's total development cost, with a requirement that at least 30% of the units are affordable to households earning at or below 80% of the Area Median Income. Proposed developments must demonstrate the capacity to obtain supplementary financing and align with the City’s Workforce Housing Ordinance. The solicitation, titled "2024 Affordable Rental Housing Project Utilizing Workforce Housing Trust Funds," was posted on July 1, 2024, with a response deadline of August 9, 2024. The project aims to promote affordable housing growth within New Mexico, supporting the city's broader housing and homelessness initiatives.
General Info
Place of Performance
NM, USASet-Aside
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Timeline
Submission Closed
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