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 $10 million from bonds and the HTF repayment account in the 2019-2021 biennial 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 2019 funding round timeline is listed below.

Application Solicited (NOFA)Sept. 26, 2019
Application Q and A Sept. 26-Nov. 20, 2019
Application Submittal Due DateDec. 31, 2019
Commerce Review of ApplicationsJan./Feb., 2020
Notification of Award DateMarch 30, 2020
Contract Negotiations, Drafting and ExecutionMarch/April, 2020
Project Must Be Ready to Proceed With Preservation ActivitiesSept. 1, 2020
Demonstration of Full Funding for Preservation Project ActivitiesBefore contract execution but no later than Sept. 1, 2020
Anticipated Completion of Preservation ActivitiesJune 30, 2021

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 announcement is posted on the Applying to the Housing Trust Fund webpage. 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 awards are posted on the Applying to the Housing Trust Fund (HTF) webpage. 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.