The National Housing Trust Fund (NHTF) is a dedicated federal fund that will provide resources that will preserve, build, and rehabilitate housing for extremely low income Virginians (30 percent Area Median Income or lower). All NHTF funding will be made available through DHCD’s Affordable and Special Needs Housing application review process. This funding will be limited to rental projects (new construction and rehabilitation) that are creating or preserving affordable units targeting extremely low income individuals. THE NHTF will provide flexible, below-market-rate loans that are targeted to projects targeting these individuals. All NHTF projects have an affordability period of 30 years.
Priority will be given to projects that target special needs populations. These are projects that are targeting at least 20 percent of the units to individuals with disabilities.
The maximum National Housing Trust Fund award is $700,000 for rental projects and $800,000 for special needs projects.