Leverage ARPA Funds to Create Affordable For-Sale Homes in Delaware
Delaware Catalyst Fund Information and Update Session
April 20, 2023, 11 a.m. – Noon
Governor Carney announced American Rescue Plan Act (ARPA) funding for housing initiatives, including the Catalyst Fund. The Catalyst Fund is a partnership between Delaware State Housing Authority (DSHA) and Cinnaire to create and preserve affordable homeownership opportunities through the acquisition of vacant homes and properties in selected Delaware neighborhoods.
Through the Catalyst Fund, Cinnaire will offer developers construction lending to incentivize developers to purchase, renovate, or replace vacant and blighted properties. ARPA funding will be used to fund a sales gap subsidy as part of construction project financing so that the cost of the new or rehabilitated home remains affordable to low- and moderate-income homebuyers.
Cinnaire and DSHA are hosting this virtual information and update session specifically for developers to provide details on the Catalyst Fund and answer your questions.
Registration for the session is required.