This grant program provides financial incentives for new multifamily affordable housing developments by offering annual grants equal to up to 100% of the incremental real estate taxes above baseline for the first 15 years of the project. Extensions for an additional 15 years may be granted based on compliance. The program aims to stimulate affordable housing construction through tax-based performance grants.
Eligible applicants are developers of new multifamily affordable housing projects. Only new construction projects qualify for this grant.
