Baltimore Announces $10.75 Million for Affordable Housing Developments
Wednesday Feb 8th, 2023
~Affordable Housing Trust Fund dollars will support new construction projects and/or rehabilitation of existing rental projects~
Baltimore, MD – Today, the Baltimore City Department of Housing & Community Development (DHCD) announced the availability of $10,750,000 in Affordable Housing Trust Fund dollars to support new construction of affordable rental housing and/or rehabilitation of existing rental projects for affordable housing. The Notice of Funding Availability (NOFA) was issued by the City’s Affordable Housing Trust Fund (AHTF).
Mayor Brandon M. Scott released a video clip explaining that “you can be an emerging developer, established developer, non-profit, for profit, or a community land trust” to apply for this funding support. Applications are due Friday, March 17, 2023, and applicants must demonstrate the capacity to complete and occupy projects within two (2) years of executing a Funding Agreement.
The AHTF was established to support the housing needs of the City’s low and very-low-income households. AHTF dollars must be spent on housing and housing-related activities for households earning 50 percent or less of the Area Median Income (“AMI”) as defined by the Department of Housing and Urban Development (“HUD”). At least half of the available funds are to be spent on households earning 30 percent or less of the AMI. Since its inception, the AHTF has committed more than $40 million to support affordable housing in Baltimore city.
In this NOFA, at least $2 million will be awarded to Community Land Trusts, and $1.75 million will be in support of emerging developers. Housing Commissioner Alice Kennedy also released a video clip encouraging developers and joint ventures to apply for the funds. Eligible applicants can request a maximum of $1 million per project. Applicants can also submit more than one request for funds.
A virtual Pre-Submission Information Session is being offered for interested applicants on Wednesday, February 15, at 5 pm. Visit DHCD’s website for more information about the NOFA, the information session, and application instructions.