Employer-Assisted Housing Fund (EAHF) - Real Estate Development Project

Purpose: The Employer-Assisted Housing Fund (EAHF) is a state-funded pilot administered by MSHDA to incentivize employers to help create attainable workforce housing for households at or below 120% of Area Median Income by matching employer investments and ensuring long-term affordability (10 years for rental; 5 years for for-sale). Eligibility: Applicants must be land banks, local units of government, for-profit corporations, or nonprofit organizations; housing development organizations that develop or manage real estate are ineligible. Applicants must pass background checks, not be debarred, provide a 1:1 employer match, and document local support (e.g., financial contribution, tax abatement, TIF, or land transfer at no more than $1,000 per unit). LIHTC financing is not allowed. Project eligibility: Real estate development must be new construction or substantial rehabilitation (at least $25,000 per unit) of rental or for-sale housing, with units under 2,000 sq ft, on permanent foundations, meeting code, and serving households at or below 120% AMI. Accessibility targets apply (for new construction of 4+ units, at least 20% adaptable/Type B and all units at least visitable/Type C). Projects must be ready to proceed at application (site control, site plan approval, and full financing commitments) and meet timelines to close and start construction within 3 months of award and obtain a Certificate of Occupancy within 24 months (extensions possible with fee). Application process: Applications are submitted on a first-come, first-served basis. To apply, request an EAHF SharePoint folder, then upload the completed EAHF Pilot Application and all items in the Required Documentation Checklist (e.g., executive summary, pro forma, proof of financing sources, employer match verification, scope of work, trade payment breakdown, construction funding schedule, corporate documents, evidence of local support, site control, title, zoning and site plan approvals, utilities, plans, market demand, environmental review, and relocation plan if applicable). The portal will close once MSHDA receives enough complete applications.