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.
The state legislature has made available $10 million from bonds and the HTF repayment account by appropriation in the 2017-2019 biennial budget. Housing Preservation Program funds may not be used to create new units.
The 2019 legislative session began on Jan. 14, 2019. Commerce is waiting to hear if funds will be appropriated for the program in the 2019-2021 biennial budget.
- The property is part of the existing HTF multifamily rental property portfolio (i.e., has an active HTF contract);
- The building(s) of the property are more than 15 years old; and
- At least 50 percent of the housing units are occupied by families and/or individuals with household incomes at or below 30 percent of area median income (AMI).
- Capital building improvements;
- System replacement or major upgrade;
- Energy efficiency upgrades;
- Accessibility retrofits;
- Fire sprinklers and fire safety retrofits;
- Other activities that add to the depreciable basis of a building; and
- Funded activities resulting in the reduction of operating and/or utility costs.
The 2018 Housing Preservation Program NOFA closed on June 30, 2018.
|Application Solicited (NOFA)||April 2, 2018|
|Application Q and A||April 2 – June 1, 2018|
|Application Submittal Due Date||June 30, 2018|
|Commerce Review of Applications||July/August, 2018|
|Notification of Award Date||Sept. 14, 2018|
|Contract Negotiations, Drafting and Execution||Sept./Oct., 2018|
|Project Must Be Ready to Proceed With Preservation Activities||Feb. 1, 2019|
|Demonstration of Full Funding for Preservation Project Activities||Before contract execution but no later than Feb. 1, 2019|
|Anticipated Completion of Preservation Activities||May 30, 2019|
Commerce reserves the right to revise this timeline.
For answers to questions related to the 2018 Housing Preservation Program NOFA or Application, please refer to the FAQ.
2018 Funded Projects Announcements
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.
POSTED 01/10/2019: Funded projects must be in contact with their assigned Asset Manager by January 31, 2019. It is a pre-contracting requirement that the grantee has kept their Asset Manager apprised of the status of the project. All grantees received an email, following the notification of their award, from their assigned Asset Manager. If you do not know who your Asset Manager is, please contact the HPP Program Manager.
Please click here for additional information about program requirements and documents for pre-contracting.
Applying to the Housing Trust Fund
Policy Advisory Team
Evergreen Sustainable Development
Housing Trust Fund Handbook (PDF)
Housing Preservation Program
Landlord Mitigation Program
Operations and Maintenance Fund
Property Management Resources
Housing Trust Fund Reports
National Housing Trust Fund (NHTF)