2026 MHP Gap Funding NOFA

2026 MHP Gap Funding NOFA

The 2026 Multifamily Gap Funding NOFA - The purpose of this MHP Gap Funding NOFA is to support construction-ready projects that, despite having an existing HCD Loan Commitment from one or more HCD loan programs, are unable to move forward due to funding gaps that resulted from a need for additional funds to offset tax-exempt bond allocations and low-income housing tax credits, offset new credit pricing or accommodate a switch from 9% to 4% credit

This MHP Gap NOFA provides funds for previously HCD-awarded projects that demonstrate readiness and commit to applying to the next funding cycle of California Debt Limit Allocation Committee (CDLAC), or that are fully funded with a small post-award funding gap resulting from decreased tax credit pricing or unanticipated increased costs. This NOFA also provides streamlining in its application process and scoring criteria. As detailed in the NOFA, documents and conditions previously determined through existing HCD awards will not be re-reviewed, repetition in point scoring categories is minimized, and application underwriting and feasibility review requirements are streamlined

Details

• Agency: Department of Housing and Community Development
• Type: Loan
• Funding Source: State
• Estimated Available Funds: $240,000,000
• Estimated Awards: Dependant on number of submissions received, application process, etc.
• Award Amount: Dependant on number of submissions received, application process, etc.
• Funding Method: Advances & Reimbursement(s)
• Matching Funds: Not Required
• Geography: All across California, 10% set-aside for Rural areas.

Categories

Housing, Community and Economic Development

Eligible Applicants

Business; Nonprofit; Public Agency; Tribal Government