Loudoun County’s application process for the Affordable Multi-Family Housing Loan Program has opened with the release of the 2022 Notice of Funding Availability.
For-profit and nonprofit affordable housing developers are eligible to apply for loans for the development of long-term, affordable multi-family housing rental units. The loans are to be used in conjunction with the Virginia Housing Development Authority Low-Income Housing Tax Credit Program and/or the U.S. Department of Housing and Urban Development 221(D)(4) Program financing.
The application process is competitive. Project applications will receive points in the following categories:
Loudoun County will hold a pre-application meeting Wednesday, August 17, 2022, at 10:00 a.m. To register for a pre-application meeting or for more information about the application process, contact Housing Finance Project Manager Rebekah King by email or 703-771-5718. Complete applications must be submitted by 5:00 p.m., Monday, October 3, 2022.
The Affordable Multi-Family Housing Loan Program is one of several initiatives created by the Loudoun County Board of Supervisors to increase the supply and retention of affordable multi-family rental housing units in the county. The program encourages private investment by providing gap financing to address unmet housing needs. For more information about the program and application process, visit loudoun.gov/multifamilyfinancing.
Loudoun County has a number of programs aimed at helping families achieve safe and affordable housing. More information about Loudoun County’s housing programs is online at loudoun.gov/housing.
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