What are Homekey & Affordable Projects?

The goal of the Homekey program is to grant state funds to local public entities to acquire, develop and operate a broad range of housing types, as well as convert commercial properties and other existing buildings to Permanent or Interim Housing for the Target Population. Suitable properties include but are not limited to hotels, motels, single-family homes and multifamily apartments, adult residential facilities, and manufactured housing.
How does a property qualify?
1
Affordable or transitional/permanent supportive housing dwellings
2
New Construction units
3
Acquisition/Rehab units
4
No existing Investor Limited Partner
5
Premium paid for properties in a Federal Opportunity Zone
6
No Geographic restrictions