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Notice of Funding Availability (NOFA) - Affordable Rental Development Gap Financing
 Affordable Rental Development Gap Financing is Available
The City of Raleigh’s Housing and Community Development Department announces the availability of funds under the City’s Rental Development Program for qualified developers to submit proposals for the new construction, acquisition, and/or rehabilitation of affordable multifamily rental units. Please see the Notice of Funding Availability (NOFA) document below for deadlines and further details.
Approximately $8 million in affordable rental development gap financing is available. Rental units assisted with these funds must be affordable to households with incomes at or below 80% of the Area Median Income (AMI). Please view the NOFA for application deadlines, schedules, and information about eligible projects.
How to Apply
Applications will only be accepted through the City's online application portal, Neighborly Software. To get started, visit the online portal and register for a new account. Hard-copy or emailed applications will not be accepted.
Questions? Contact Jasmine Martin, Multifamily Lending Analyst, with questions and to schedule a pre-submission meeting. She can be reached at rental.development@raleighnc.gov or 919-996-6976.
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