Assistance Terms
Multifamily Rental
New Construction or Rehabilitation Loans: Lien restrictions for assisted units are required for 55 years. Loans may be made in conjunction with low-income tax credit financing. New Construction or Rehabilitation Grants (Forgivable Loans): Lien restrictions for assisted units are required for up to 55 years. Grants (Forgivable Loans) may be made in conjunction with low-income tax credit financing.
Homeownership
Homeowner Grants: For rehabilitation or new home construction, lien restrictions are required for 20 years. If the unit is sold to a non-farmworker buyer before completing the 10th year, the full grant amount must be repaid under most circumstances. Between the 10th and 20th anniversaries, the grant is forgiven at a rate of 10 percent per completed year. The grant is fully forgiven after completing 20 years.
Eligible Activities
Homeownership Development Project, Technical Assistance for Self-Help Housing Projects, First-Time Homebuyer Assistance, Owner-Occupied Rehabilitation Assistance, and Acquisition of Manufactured Housing.
Activities incurring costs in the development of homeowner or rental housing for agricultural workers, including land acquisition, site development, construction, rehabilitation, design services, operating and replacement reserves, repayment of predevelopment loans, provision of access for the elderly or disabled, relocation, homeowner counseling, and other reasonable and necessary costs.
Eligible Applicants
To be eligible to apply for funding, the Applicant shall be a Local Public Entity, Local Public Agency, Tribal Entity, Nonprofit Corporation, Limited Liability Company, or Limited Partnership
Local government agencies, nonprofit corporations, cooperative housing corporations, limited partnerships where all the general partners are nonprofit mutual or public benefit corporations, and federally-recognized Indian tribes.
(Multifamily/Rental) Eligible beneficiaries of the funds are households who derive, or prior to retirement or disability derived, 50% or more of the combined household income from agricultural employment.
