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Multifamily Housing Program: Homeless Youth Component (MHP-HY)
Links to program publications are shown following the program description.
Purpose
Provide low-interest loans to developers of affordable rental housing developments that contain units for homeless youth (HY). Funds may be used for permanent multifamily rental and transitional housing projects involving new construction, rehabilitation, acquisition and rehabilitation, or conversion of nonresidential structures.
Assistance Type
Deferred payment loans.
Eligible Activities
Eligible costs include project development capital costs, including child care, after-school care and social service facilities integrally linked to the restricted housing units. Capital costs may involve real property acquisition; refi nancing to retain affordable rents; necessary onsite and offsite improvements; reasonable fees and consulting costs; and capitalized reserves.
Eligible Applicants
Local public entities, for-profit and nonprofit corporations, limited equity housing cooperatives, individuals, Indian reservations and rancherias, and limited partnerships in which an eligible applicant or an affiliate of an applicant is a general partner. Applicants or their principals must have successfully developed at least one affordable housing project.
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