InvestNH is funded through the State’s allocation of American Rescue Plan Act (ARPA) State and Local Fiscal Recovery Funds (SLFRF), making $100 million available to accelerate the approval and construction of affordable workforce housing in New Hampshire. It is a new, one-time flexible resource to benefit small and large projects across the state plus the municipalities in which they will be located.
Program funds are for multifamily rental housing that is affordable to individuals and families at or below 80% of area median income (AMI), with distinct program elements that benefit developers engaging in eligible projects and municipalities approving and planning for them.
Key features of InvestNH include $60 million for a Capital Grant Program for nonprofit and for-profit developers and/or owners of multi-family rental housing of three (3) or more units per structure that add housing stock that will be used for long-term residential rentals only, as well as $40 million for a Municipal Grant Program that provides per-unit funding to municipalities available for a wide range of uses, grants to municipalities to analyze and update land use regulations, and grants for the demolition of vacant or dilapidated buildings as part of a larger community revitalization strategy.
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