Housing Preservation Program

The Housing Preservation Program makes funds available for major building improvements, preservation, and system replacements necessary for existing Housing Trust Fund (HTF) multi-family rental projects. The purpose of the program is to maintain long-term viability of the existing HTF portfolio.

Funds

The state legislature appropriated $20 million in the 2021-2023 Capital Budget. Housing Preservation Program funds may not be used to create new units.

For current funding opportunities, please visit the Applying to the Housing Trust Fund webpage. 

Funding Availability

The 2021 funding round timeline is listed below.

Application Solicited (NOFA)

October 14, 2021

Application Q and A

October 14 – November 30, 2021

Application Submittal Due Date

December 31, 2021

Commerce Review of Applications

January – February, 2022

Notification of Award Date

March 18, 2022

Contract Negotiations, Drafting and Execution

March – August, 2022

Project Must Be Ready to Proceed With Preservation Activities

September 1, 2022

Demonstration of Full Funding for Preservation Project Activities

Before contract execution but no later than Sept. 1, 2022

Anticipated Completion of Preservation Activities

June 30, 2023

Commerce reserves the right to revise this timeline.

Questions

For answers to questions related to the Housing Preservation Program NOFA or application, please refer to the FAQ.

2019 Funding Round

Awards for the HTF Housing Preservation Program (HPP) were made on March 31, 2020. The HPP was able to fund 32 of the 33 applications for a total of $15.1 Million. This important investment will help preserve and extend the affordability period for 934 units of affordable housing across our state, 677 of those benefitting extremely low-income households and individuals (below 30% of the area median income). Click here to view a complete list of awarded projects

2018 Funded Round

Awards for the 2018 HTF Housing Preservation Program (HPP) funding round were made on Oct. 18, 2018. The HTF was able to fund 23 of the 38 applications received, for a total amount of $9,890,679. Click here to view the complete list of awarded projects.