The Affordable Rental Development Program partners with for-profit and nonprofit housing developers to create safe, quality, affordable rental housing through new construction or rehabilitation. Program Overview:
Eligible uses include acquisition, construction, rehabilitation, or demolition.
Financial assistance for development subsidies is in the form of a loan.
Housing must serve a low to moderate-income families/individuals as determined by HUD. Rents cannot exceed limitations established by HUD.
Tenants must meet income guidelines as determined by HUD.