$700K available in two HEART loan products
August 6, 2012 – The Housing Endowment and Regional Trust of San Mateo County (HEART) is pleased to announce the availability of $700,000 for housing development projects. As the funds are revolving and so long as there’s an unallocated funding balance, HEART will continue to accept applications for review. However, the funds may be allocated to a single project. The $700,000 proceeds are provided from State Proposition 1C.
The goal of the NOFA is to increase the long-term supply of affordable housing through primarily providing loan assistance for the development of multi-family rental housing.
Funding will be provided through two programs: (1) QuickStart, an existing short-loan program, and (2) SemiPerm, a new program that provides medium-term loan options.