The Middle-Market Loan Program (MMLP) will provide gap financing to support the rehab and/or construction of multi-family buildings in impacted parishes that serve a range of household incomes, with the goal of achieving below-market rent affordability for LMI households. The program intends to provide good, stable housing in high-opportunity areas to low-income families and encourages socioeconomic integration into communities.
$56.1 million in funding is available for qualified projects through a Community Development Block Grant Disaster Recovery (CDBG-DR) Notice of Funding Availability (NOFA).
Method of Distribution
Funds will be awarded through a competitive Notice of Funding Availability (NOFA) process. The MMLP program will award funding to eligible applicants in the form of gap financing loans to support the construction or rehabilitation of affordable housing units.