The Seed Money Advance Loan Program and a subsidiary Market Study Program are revolving loan funds 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 Market Study Program is for short-term financing of market studies required by the Low Income Housing Tax Credit Program with loans up to $7,500 per project. 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.
