The Metropolitan Development and Housing Agency (MDHA) is soliciting applications from qualified for-profit and nonprofit developers for funding to provide new affordable rental housing opportunities for tenants with incomes at or below 60% of the area median income (AMI) for Nashville-Davidson County, adjusted for family size. MDHA has allocated a minimum of $1,134,424 in HOME Investment Partnerships Program (HOME) funds for eligible rental projects to be completed by qualified developers who respond to this request for applications (RFA). This amount includes the following set-aside: A minimum of $759,424 specifically for projects to be owned, sponsored, or developed by nonprofit developers that apply for and receive designation as Community Housing Development Organizations (CHDOs); The $375,000 remaining HOME funds are available to all qualified for-profit and nonprofit developers for use in all HOME eligible rental projects and are not restricted solely for use in CHDO projects. The intent of this RFA is to identify rental projects that create decent, safe, affordable housing opportunities for low-income households utilizing HOME funds and that leverage other resources. All HOME-funded projects must comply with all U.S. Department of Housing and Urban Development (HUD) HOME program regulations as described in the RFA.
