Thank you for your interest in the Middle Market Loan Program (MMLP). The MMLP provides $56,100,000 through our partnership with Office of Community Development – Disaster Recovery (OCD-DR) and Community Development Block Grant Disaster Recovery (CDBG-DR).
One-half of the funds will be available for projects located in the HUD-determined Most-Impacted and Distressed Parishes affected by Hurricanes Laura and Delta and one-half of the funds are available for projects in the HUD-determined Most-Impacted and Distressed Parishes affected by Hurricane Ida. This competitive program is unique in that it focuses on benefitting multifamily housing for moderate income populations and therefore, units may not be restricted to rents or income below 80% at move in, other than those units reserved for PSH. This program will not use §42 Low Income Housing Tax Credits as a source of funding; instead, it will primarily use conventional financing.
It is the desire of LHC to invest CDBG-DR funds into at least two qualifying projects for Laura-Delta-eligible projects and at least two qualifying projects for Ida-eligible projects, as determined through the competitive scoring approach established in this NOFA.
