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Multifamily Restoration Loan Fund

  ATTENTION: THE APPLICATION DEADLINE FOR THIS PROGRAM HAS CLOSED  

 

Program Description

The Louisiana Housing Corporation (LHC) issued application guidelines and opened the application period for loans and grants for developers with multifamily structures of 20 or more units under the Multifamily Restoration Loan Fund (MRLF). Widespread flooding in 2016 resulted in the loss of affordable rental units across more than 51 parishes. Funds were made available to properties with existing affordability commitments for repair and restoration of flood-impacted units. Under a separate branch of the program, existing market rate properties were eligible for repair and restoration funds, as well as other costs necessary to transition to affordable housing.

Total loan and grant funding available for the MRLF is $19.25 million, allocated across four pools to ensure participation across various parishes (HUD Most-Impacted and FEMA Disaster Declared), and across various property types (Public Housing, Existing Affordable Housing, and Market Rate conversions). This program is funded through the Community Development Block Grant Disaster Recovery Program (CDBG-DR) from the U.S. Department of Housing and Urban Development.

Applicants are advised that their application must conform to the NOTICE OF FUNDING AVAILABILITY AND PROGRAM IMPLEMENTATION GUIDELINES, as amended.

Do you have questions about the program? Please email disasterrecovery@lhc.la.gov.

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