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2019 Piggyback

2019 Multifamily pIGGyBACK nofa

On February 15, 2019 Louisiana Housing Corporation published the 2019 Multifamily Piggyback Notice of Funding Availability (NOFA) in the amount of $25 million.  This NOFA is designed to increase and preserve affordable housing opportunities in 37 parishes impacted by Hurricanes Katrina and Rita.  Specifically, $14.7 M is allocated in New Orleans, which sustained the largest amount of damage from Katrina. The remaining dollars are available in all parishes that were impacted by the storms.  Per Section 7.6 Questions and Communication:  Should applicants have questions or need further clarification, the LHC deadline for all inquiries must be submitted in writing to disasterrecovery@lhc.la.gov by the close of business on Thursday, February 28, 2019.  LHC urges all potential applicants to submit their questions by the deadline. 

Program Description

The Louisiana Housing Corporation (“LHC” or “Corporation”) hereby releases this Notice of
Funding Availability and Program Implementation Guideline (“NOFA” or “Program Description”) for the preliminary commitment of $25,000,000.00 of Community Development  Block Grant Disaster Recovery funds (CDBG-DR funds).
 
These funds were originally allocated by HUD pursuant to Hurricanes Katrina and Rita, and eligible projects must be located in the Katrina-Rita Parishes. This NOFA is designed to provide funding for the new construction or acquisition/rehabilitation development of multifamily affordable housing developments that provide affordable housing as stipulated herein. Successful applicants will be required to utilize CDBG-DR funds with (4%) Low Income Housing Tax Credits (LIHTC) which are allowable from LHC Multifamily Revenue Bonds “LHC Tax-Exempt Bonds”) that are issued by the LHC in accordance with Section 42(h)(4) of the Internal Revenue Code of 1986, as amended (“Code”).
 
 

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