The Louisiana Housing Corporation Announces the Second Round of PRIME 3 Awards List

2 July 2024 – Louisiana Housing Corporation (LHC) in conjunction with the Louisiana Office of Community Development (OCD) is awarding an additional $205,552,345 in Community Development Block Grant (CDBG) funds through the 2023 Piggyback Resilience Initiative Mixed-Income (PRIME 3) Program to 19 projects to develop 2,132 adaptive re-use and new construction housing units. The CDBG funds will be leveraged with Multifamily Revenue Bonds (MRB) and 4% Low Income Housing Tax Credits (LIHTC) to maximize the efficiency of the available funds.

PRIME 3 offers funding for the adaptive reuse and new construction of multifamily affordable rental housing in parishes affected by Hurricanes Laura, Delta, and Ida. Awarded projects will incorporate fortified, disaster-resilient construction materials recommended by the Insurance Institute for Business and Home Safety (IBHS), as outlined in their application.

Please click below to access the PRIME 3 Awards List.