Affordable Housing Trust Fund 2025
This program provides financial assistance to municipalities and developers to create and maintain affordable housing for low and moderate-income residents, ensuring these units remain affordable for at least 20 years.
The Affordable Housing Trust Fund Program (AHTF) aims to provide municipalities, for-profit and non-profit developers with financial assistance to advance the development of low and moderate income affordable housing across the State. The program is designed to maintain those units as affordable for a minimum of 20 years. It is limited to projects of 25 units or less, and funds have also been set aside for innovative projects and initiatives related to the development of affordable housing. This is a loan program.
Award Range
$50,000 - $6,000,000
Total Program Funding
$60,000,000
Number of Awards
Not specified
Matching Requirement
No
Additional Details
Funds are provided on a reimbursement basis as a soft second amortizing loan at 1% with a term equal to the affordability control period. Annual repayment is 50% of net cash flow, if available. Unpaid accrued interest will be added to the outstanding principal. All outstanding principal and any accrued interest will be due at the end of the term.
Eligible Applicants
Additional Requirements
Households that are low and moderate income as defined by the Council on Affordable Housing
Geographic Eligibility
All
Application Opens
July 1, 2024
Application Closes
June 30, 2025
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