The preservation and creation of affordable rental housing opportunities for lower income households continues to be one of the top priorities of the Redevelopment Authority of the County of Lancaster. Since 1984, the Authority has assisted in the creation of affordable rental-housing units throughout the county. To support this effort, the Redevelopment Authority will be accepting proposals from organizations requesting funding for the development of affordable rental housing in 2016. Funding for this program is provided to the County of Lancaster by the U.S. Department of Housing and Urban Development (HUD), Community Development Block Grant Program (CDBG) and the HOME Investment Partnerships Program (HOME).
CDBG and HOME programs are not intended to be the primary source of financing for a project. They are a secondary source of funds to be used in conjunction with any number of other sources, such as, owner equity, Tax Exempt Multifamily Bonds, local lending institutions, the Pennsylvania Housing Finance Agency, the Pennsylvania Department of Community and Economic Development, the Federal Home Loan Bank Board, and the Federal Low Income Housing Tax Credit Program. The combination of these sources will ensure that each project provides the greatest possible leverage of HUD funds.
The Redevelopment Authority will accept applications for projects that intend to have loan settlement in 2016. Proposals meeting the Redevelopment Authority’s standards and priorities for the development of affordable rental housing will be issued a Reservation of Funds no later than December 30, 2015, enabling them to use this reservation as leverage in obtaining funding from other sources. All projects must be in accordance with the Lancaster County Comprehensive Plan, Growth Management Element and Housing Element. These documents are available online at http://www.co.lancaster.pa.us/planning.
Proposals may be submitted to the Redevelopment Authority, 202 North Prince Street, Suite 400, Lancaster, PA 17603-3528, by mail, delivery service or in person (faxed or electronic proposals are not acceptable) by 4:30 p.m. on October 15, 2015. Applicants must submit one hard copy and one electronic copy of the completed application package, including all attachments.
To obtain an application package please go to the Redevelopment Authority’s website at www.lchra.com. If you have any questions please contact Mr. David M. Brazina, at (717) 394-0793 ext. 204 or [email protected].
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