Housing Trust Fund
Funding is designated for the production, preservation, rehabilitation, or operation of rental housing. HTF will address the affordable rental housing needs for extremely low (30 % of AMI) and very low-income (50% AMI) households, while giving priority to projects that address critical housing needs with an emphasis on the prevention, reduction, and expansion of permanent housing opportunities for persons experiencing homelessness and persons with serious mental illness.
Organizations eligible to receive funding through the National Housing Trust Fund are non-profit and for profit organizations with demonstrated development and capacity with creating, rehabilitating, or preserving affordable housing. The eligible activity is construction or rehabilitation of rental property. Eligible project types are multi-family and single family rental housing.
MHC will use a ranking process to select projects for funding. Higher preference will be given to applicants that incorporate significant funding from other sources such as LIHTC and other federal and local housing programs. The maximum award per applicant is $1.5 million with the final amount determined by reviewing the financial feasibility of the project including operating revenues.
Rental housing needs of extremely low income households, with incomes between 0 and 30 percent of Area Median Income (AMI).
Target at least 10% of units in each property to address prevention, reduction, and expansion of permanent housing opportunities for persons experiencing homelessness and persons with disabilities targeted under Mississippi’s Olmstead Initiative.
Be located within priority areas defined by the State’s Consolidated Plan and/or low and high opportunity areas.
Documented need for rental housing affordable to extremely low-income households in the market area served by the property.
Maximum award per applicant is $1.5 with the final amount determined by reviewing the financial feasibility of the project including operating revenues.
Maximum Award per project is up to $1.5 million per phase of the development not to exceed the maximum award per applicant.
Other Funding Sources
HTF funds are to be combined with other federal and non-federal sources to produce and preserve affordable units such as, HOME funds, Low Income Housing Tax Credits, and Tax Exempt Bonds with Housing Tax Credits. Fifty percent (50%) or greater of aggregate basis shall be financed by tax‐exempt bonds.
The application process consists of two steps:
1) Threshold Review - An application must meet all threshold requirements in order to be eligible for reservation of HTF funds.
2) Application Scoring – An application must score a minimum of 75 on a 100 point scale to be considered for a HTF Award. Applications are scored based on selection criteria.
#21-005 HTF 2021 Rent Limits (5/6/2021)
#21-004 HTF 2021 Income Limits (5/6/21)
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