On September 21, 2020, the City of Detroit, Michigan‘s Housing and Revitalization Department announced the release of the September 2020 Notice of Funding Availability (NOFA).
This funding, totaling $11 million, will support the preservation, rehabilitation, and/or development of affordable housing units in the city.
$3 million of that amount is allocated for the new Historic Rehabilitation / Preservation category. This is intended to assist residential buildings in historically significant districts of the City in order to prevent displacement of low-income residents.
Applicants to this category must agree to preserve affordability for current low-income residents up to 60% AMI in addition to making a minimum of 20% of all residential units affordable to families earning 80% of AMI.
All developers applying through this NOFA, or who will be seeking support for a 9% LIHTC application, must schedule a pre-application review meeting. To schedule a meeting, email Denise Jackson at firstname.lastname@example.org.
Apply by: November 6, 2020.
Photo of historic Detroit warehouses turned into residences is by Storm Cunningham.