CATNHP is a state funded bond program available to the following organizations to support rental housing production or rehabilitation:
- for-profit sponsors
Eligible Activities and Affordability Requirements
- CATNHP may be used to finance the development of rental units located either within a neighborhood commercial area, for projects with 25 units or less, or a transit-oriented development located near a public transit node, for projects with greater than 25 units.
- Not less than 50% of the units in a project receiving CATNHP financial support shall be occupied by and affordable to households at or below 80% of the area median income as determined by the U.S. Department of Housing and Urban Development (HUD).
- CATNHP may also be used to finance a mixed-use development that includes both residential housing units and commercial or retail space, including projects which have residential units above commercial space.
- Commercial costs funded with CATNHP funds shall not exceed the lesser of 25% of the total development cost of the commercial portion of the project or $1,000,000.
- The total amount of CATNHP funds requested per eligible project may not exceed $1,000,000 or $50,000 per unit.
- Each sponsor of a project eligible for CATNHP funds may submit only one request for funding.
- It is the Department's expectation that acquisition costs, construction costs, "soft" costs, and developers' fees will be reasonable, as defined by and within the standards set forth for other DHCD housing programs.
- Funds for assisting commercial area transit node housing projects are limited.
- Sponsors are strongly encouraged to schedule meetings with DHCD staff to determine whether their projects are in fact eligible for consideration.
- CATNHP assistance will be provided in the form of a 30-year deferred payment loan at 0% interest.
- DHCD reserves the right to structure the loan with an interest rate acceptable to DHCD set at the time of closing. All CATNHP loans are non-recourse and secured by a mortgage on the property.
- Project location
- Evidence of local support
- Evidence of site control
- Evidence of zoning
- Identification of proposed financing and project feasibility
- Commitment to affordability
- Consistency with principals of sustainable development
- Good standing with DHCD
- Please see the CATNHP Program Guidelines for additional project requirements.
How to Apply
DHCD makes CATNHP funding available through a Notice of Funding Availability (NOFA).
Applicants must submit an application for funding using the Department’s Mass One Stop+ web-based application One Stop Application