Community Development Funding Opportunities

Notice of Funding Availability (NOFA) - Affordable Rental Housing Rehabilitation

The City of Raleigh’s Housing & Neighborhoods Department announces the availability of approximately $500,000 to finance repairs and rehabilitation to support the preservation of affordable rental units. This funding is intended for smaller-scale rental properties (e.g. properties with one to four units, small multifamily residential properties). 

Additional details can be found in the NOFA: 

• NOFA - Affordable Rental Housing Rehabilitation  

How to Apply

Applications must be received via email to Annie Baumann-Mitchell, Housing Programs Manager, at Rental.Development@raleighnc.gov. Only written questions submitted via email to the address above will be accepted. Hard-copy applications will not be accepted. Application deadline for this NOFA is December 6, 2024, at 4:00PM EST.

CLOSED: Notice of Funding Availability (NOFA) - Affordable Rental Development Program

The City of Raleigh’s Housing & Neighborhoods Department announces the availability of funds under the City’s Rental Development Program for qualified developers to submit proposals for the new construction, acquisition, and/or rehabilitation of affordable multifamily rental units. Funds are available from local funding sources such as the 2020 Affordable Housing Bond as well as federal HOME funds. Please see the Notice of Funding Availability document below for further detail.

• NOFA - Gap Financing Rental Development Program

Approximately $24 million in affordable rental development gap financing is available. Rental units assisted with these funds must be affordable to households with incomes at or below 80 percent of the Area Median Income (AMI). Please view the NOFA for application deadlines, schedules, and information about eligible projects. 

Please note: Applications will only be accepted through the City's online application portal, Neighborly Software. To get started, visit the online portal and register for a new account. Hard-copy or emailed applications will not be accepted. 

CLOSED: Notice of Funding Availability (NOFA) - Affordable Small-Scale Rental Development Program

The City of Raleigh’s Housing & Neighborhoods Department announces the availability of the following:

1. $2,000,000 for gap financing from Affordable Housing Bond (Bond) proceeds to support the creation and preservation of affordable rental units; and

2. $150,000 for an optional solar incentive that provides funding for projects that meet certain solar criteria; and

3. City-owned building sites via long-term land leases to support the creation of affordable rental projects.

View the NOFA: 

• NOFA - Small-Scale Rental Development Program

How to Apply

Applications will only be accepted through the City's online application portal, Neighborly Software. To get started, visit the online portal and register for a new account. Hard-copy or emailed applications will not be accepted. 

Application deadline for this NOFA is April 5, 2024 at 5:00PM EST.