Portfolio Reinvestment Program (PRP) Notice of Funding Availability
Department of Housing and Community Development
About this archived opportunity
The PRP NOFA is restricted to HCD-funded multifamily rental housing projects whose regulatory agreement(s) expire no later than 12/31/32. There is a $50 million small project set aside (for projects of no more than 20 units), a $50 million set aside for projects that have been foreclosed on by HCD or another public lender, and a $100 million set aside for residential hotels. All eligible multifamily rental housing projects must have at least five units. The NOFA provides funds for rehabilitation as well as to capitalize short-term operating subsidies. Projects that receive loans will enter into a new long-term Regulatory Agreement, thereby preserving the project for at least another 30 years.
Historical details
- Status
- Closed
- Deadline
- November 30, 2022
- First captured
- March 14, 2026
- Award
- $332,500,000
- Publisher reference
- 12203
Eligibility: Eligible applicants must be owners of eligible HCD-funded projects or must have been approved by HCD to acquire an eligible project and must meet all requirements for being a Sponsor and having site control.
This opportunity has closed
Portfolio Reinvestment Program (PRP) Notice of Funding Availability
by Department of Housing and Community Development
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