Affordable Housing Fund

Program Status
Program Description

The Affordable Housing Fund, established with a Capital Magnet Fund FY 2020 award and matching funds from CHFA, is available to eligible affordable multifamily rental housing developments statewide that have a funding need of $1 million or less and that meet eligibility criteria.

Program Type
Type of Funding
Source of Funds
Federal Community Development Financial Institutions Capital Magnet Fund Program grants with CHFA match
Funding Amounts/Limits

Total initial fund balance of $6 million depleted; anticipated $2 – $4 million available 2024

Target Population(s)

Extremely-Low Income (ELI) = 0-30% AMI, Very-Low Income (VLI) = >30%-50% AMI, Low-Income = >50%-80% AM and Eligible households = ≤ 120% AMI

Links to Additional Resources

Eligibility

Eligible Applicants
Eligible Project Size
Other Eligibility Guidelines

Application

Application Timeline

Rolling

Overview of Application Process

Need based; applicants submit request at time of preliminary application

Additional Information

Other Notes

The fund is currently exhausted; CHFA applied for an allocation in the FY2024 round.

Last Updated
June 6, 2024
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