Loudoun County has issued a Request for Qualifications (RFQ) for the affordable housing financing program for developers launched earlier this year - the Rental Housing Acquisition and Preservation Loan Program (RHAP).
The purpose of RHAP is to preserve affordable, multi-family rental housing units in Loudoun County by making funding available for the acquisition and preservation of rental housing that is either market affordable or affordable through rent restrictions.
Interested developers must submit the required documentation in the RFQ by August 1, 2022, to be considered for certification. For program requirements and guidelines, visit loudoun.gov/multifamilyfinancing.
The RFQ will provide Loudoun County with a pool of certified developers. Only certified developers will be eligible to submit proposals to RHAP for loan consideration. Project applications will be required to meet county priorities for the program. Once approved by the Board of Supervisors, developers will remain certified for 12 months. Pre-qualification opportunities will be issued annually.
For questions or more information about RHAP, email Housing Finance and Development Administrator Rebekah King or visit loudoun.gov/multifamilyfinancing.
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