Developer Incentive Program - Notice of Funding Availability (NOFA)

In FY24, DHCD is making up to $1.5 million in American Rescue Plan Act (ARPA) funding available for appraisal gap funds through a Developer Incentive Program. Each project is eligible to receive up to $50,000 in appraisal gap grant funding per property as justified by a certified property appraisal or recent broker price opinion and an accepted development pro forma and project budget. Projects must be single family projects for homeownership in the city’s designated Impact Investment Areas and serving households that earn no more than 80% of the HUD Area Median Income (AMI) as adjusted by household size.

Review NOFA Here

Review Developer Incentive Public Comment/Questions Responses

VIEW Pre-Proposal Conference Presentation

Pre-Proposal PowerPoint