Portfolio Reinvestment Program (PRP) Notice of Funding Availability

The PRP NOFA is restricted to HCD-funded multifamily rental housing projects whose regulatory agreement(s) expire no later than 12/31/32. There is a $50 million small project set aside (for projects of no more than 20 units), a $50 million set aside for projects that have been foreclosed on by HCD or another public lender, and a $100 million set aside for residential hotels. All eligible multifamily rental housing projects must have at least five units. The NOFA provides funds for rehabilitation as well as to capitalize short-term operating subsidies. Projects that receive loans will enter into a new long-term Regulatory Agreement, thereby preserving the project for at least another 30 years. Program Details Department of Housing and Community Development is a state agency that offers the Portfolio Reinvestment Program (PRP) Notice of Funding Availability grant program to support community economic and housing and shelter programs. This funding opportunity is available statewide and is administered by Department of Housing and Community Development through California Grants Portal. Organizations seeking funding for community economic and housing and shelter programs should review the details below and confirm their eligibility before preparing an application. Eligibility Eligible applicants should review the full program requirements on California Grants Portal for specific eligibility restrictions. Organizations that meet the eligibility criteria are encouraged to apply and to review the full program guidelines before submission. Because eligibility rules and funding priorities can change between cycles, applicants should always confirm the current requirements with Department of Housing and Community Development or on California Grants Portal before investing time in an application. Funding and Timeline Applications are due by November 30, 2022. Applicants should allow sufficient time to gather required documentation, including organizational information, project descriptions, budgets, and supporting materials as specified in the program guidelines. Submitting a complete application well ahead of the deadline reduces the risk of disqualification on technical or administrative grounds. Program Focus This grant supports community economic and housing and shelter programs. This grant is associated with NAICS industry classifications: 236115, 531312. Organizations operating in these sectors are encouraged to review eligibility. Funded projects are expected to demonstrate measurable outcomes aligned with the program's stated objectives. Grant recipients may be required to submit progress reports and final evaluations as a condition of the award, and to retain records for audit and compliance purposes. How to Apply Eligible organizations can apply through California Grants Portal. Create a free organization profile on GrantRegister to see whether this grant matches your organization's NAICS code, entity type, location, and focus area, and to receive a weekly digest of every open grant you qualify for. GrantRegister maintains a complete, authoritative registry of US federal, state, and foundation grant opportunities — matched automatically to your organization profile and delivered every Monday.

Eligibility

• Programs related to housing

Award details

Applications close on November 30, 2022.

Categories

Community Economic · Housing