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Housing Innovation Notice of Funding Availability NOFA

Overview:

The Housing Innovation Program is a resource to address housing needs that are currently not being served through other MFA programs and an opportunity for eligible applicants to fund a community tailored housing solution. Through the program, MFA looks to assist underserved populations, to cultivate new partnerships, and to fund projects that may be scalable.

Examples of past awards include funding for a roof repair and replacement program, homeless shelter expansion, accessibility improvements for senior homeowners, and scattered sight transitional housing for participants of a workforce integration program. 

Eligible Agencies:

Eligible applicants include, but are not limited to, non-profit organizations, for-profit organizations, governmental housing agencies or authorities, regional housing authorities, governmental entities, governmental instrumentalities, tribal governments, tribal housing agencies, developers, builders, corporations, limited liability companies, partnerships, joint ventures, syndicates, associations, or other entities that can assume contractual liability and legal responsibility by executing one or more written agreements entered into with MFA. Individual applicants are not eligible for the Housing Innovation Program.

Eligible Funding Activities:

Only projects capital in nature will be considered for award and all activities must directly benefit a low- or moderate-income household. Awards will only be made for activities eligible under the New Mexico Housing Trust Fund Rules, which include:

  • costs of infrastructure and infrastructure purposes
  • financing in whole or in part through loans or grants, the costs necessary to support, operate or own affordable housing projects
  • the acquisition, construction, rehabilitation, renovation, reconstruction, alteration or repair of residential housing, multi-family housing, congregate housing facilities, transitional housing facilities
  • buildings for use as or that will provide affordable housing

Planning activities, funding for operational expenses, and housing development projects that could be eligible for funding through MFA’s housing development programs will not be considered for an award through the Housing Innovation Program.

All awards will be subject to the availability of funds and the New Mexico Housing Trust Fund Act and Rules. MFA will award no more than $500,000 to eligible applicants. Upon expenditure of 80% of its award, demonstration of successful project implementation, and provided that funds remain available to award under the NOFA, eligible applicants may request additional funding up to $500,000. Applicants must provide evidence and supporting documentation to justify that the award request is reasonable. MFA will allocate only the minimum amount of funds that it determines to be necessary for the financial feasibility of a project and its viability.   

Timeline:

Board Date Application Cut Off Date
7/17/2024 5/18/2024
8/21/2024 6/22/2024
9/18/2024 7/20/2024
10/16/2024 8/17/2024
11/20/2024 9/21/2024
12/18/2024 10/19/2024

Questions?

Contact:

Daniela Freamon
Program Manager
dfreamon@housingnm.org

Prior to application submission, MFA encourages inquiries and contacts with its contact person from prospective applicants regarding the NOFA and/or sound housing project policies and procedures.