Developer Incentive Program

Overview

DHCD established the Developer Incentive Program to provide funding to organizations, non-profits, and single-family primary homeowners who are in the process of completing extensive renovations of formerly vacant homes, which includes formerly vacant homes with a Vacant Building Notice (VBN), located in one the city’s designated Impact Investment Areas or Middle Neighborhoods for homeownership projects. The Developer Incentive Program provided funding for total development costs. 

Ultimately, $3.3 million ($2.4 million for Impact Investment Areas and $900,000 for Middle Neighborhoods) was made available through this program. Currently, all funding has been obligated. Eligible projects received up to $50,000 per property of funding for homeownership projects. Eligible projects must be single family projects for homeownership in the city’s designated Impact Investment Areas and serving households that earn no more than 120% of the HUD Area Median Income (AMI) as adjusted by household size.

List of Awardees

Resources

• Developer Incentive Program Updates Webinar
• Developer Incentive Public Comment/Questions Responses
• Pre-Proposal Conference Presentation
• Pre-Proposal PowerPoint
• Middle Neighborhoods Presentation - January 2023
• April 2024 Notice of Funding Available (NOFA)