The Seed Money Advance Loan Program ($160,000 Seed Money and $90,000 Market Study) is a revolving loan fund that can be used to pay recoverable predevelopment costs before construction loan proceeds are available. The program is intended to facilitate the development of high quality affordable housing by providing below market financing and flexible terms for site acquisition and typical predevelopment expenses. The Department will underwrite, originate and administer the loans. For more detailed information on the program, please refer to the Predevelopment and Seed Money Loan application.
