The City of Memphis, Division Housing and Community Development (HCD) announces the release of $7.5 million in Accelerate Memphis bond proceeds for the second round of the Memphis Affordable Housing Trust Fund (MAHTF). The funds will be used to develop and preserve multifamily units in an effort to advance Memphis’ mission of providing affordable housing for all.
Funds will provide a minimum of $100,000 to support the rehabilitation and new construction of multifamily housing units. The application process will be open to non-profit housing developers and for-profit developers applying jointly with a nonprofit organization interested in providing safe, quality, and affordable housing.
“Working to provide quality, affordable housing has been one of our top priorities since coming to the mayor’s office,” Mayor Jim Strickland said. “The Affordable Housing Trust fund is another strong tool in the toolbox to help us continue to move the needle in this important area.”
Applications for the second round of MAHTF will be available beginning Wednesday, November 17, 2021. All applications must be submitted electronically. HCD will award funds through an open application process.
“We are thrilled to announce round two of the Memphis Affordable Housing Trust Fund. Making $7.5 million dollars available for rehab and new construction of multifamily housing is huge for our community. These funds will fill a much-needed gap for quality, safe affordable housing for Memphis,” Ashley Cash, director of Housing & Community Development said.
A virtual information session will be held in December 9th at 9:30 a.m. You must register online at https://bit.ly/MAHTFRD2 to attend. To obtain additional information about MAHTF Second Round or to apply, please visit https://www.memphistn.gov/government/housing-and-community-development/funding-opportunities/
ABOUT MEMPHIS AFFORDABLE HOUSING TRUST FUND: The MAHTF was established to address the affordable housing needs of households that earn up to 80 percent of the Area Median Income (AMI) with the primary goals of increasing affordable housing, improving neighborhoods, and building nonprofit developer capacity. HCD will administer the second round of MAHTF through its Affordable Housing Department.
FOR MORE INFORMATION: Contact Jocelyn Eddins at Jocelyn.Eddins@memphistn.gov or 901-636-7428. To request an interview, please contact Arlenia Cole, Media Affairs Manager at arlenia.cole@memphistn.gov or 901-569-1971.