Santa Rosa seeks developers for millions in affordable-housing grants
Santa Rosa is seeking applications from developers interested in tapping some of the $3.7 million in local funds set aside for affordable housing.
Applications are open, the city stated, through its Santa Rosa Housing Authority. It stated that the funds are directly to be used by developers who are pursuing funds through the California Multifamily Housing Program or 9% tax credits for new affordable housing in Santa Rosa.
“This annual process, known as a Notice of Funding Availability (NOFA), is accelerated to enable affordable housing developers the opportunity to secure local funds to make their state funding applications more competitive. Applications for this opportunity are due by April 26, 2019,” the city stated.
Santa Rosa stated awards would be given based on project readiness, financial feasibility, qualifications of the development team and other factors as well as the ability to submit a competitive 9% tax credit application in the state’s July funding round or a competitive multifamily housing program application in the June funding round.
For more information on this funding opportunity, visit srcity.org/679/Loans-to-Developers.