For developers looking to navigate the complex funding pools for housing projects, the City's Department of Housing and Community Development is setting the table for a routine touchpoint. On May 2 from 2 to 4 p.m., the Department is slated to hold its monthly Developer meeting, an event that promises to serve as a critical bridge between housing policymakers and the builder community. Interested participants can join the meeting via Microsoft Teams to get the lay of the land on funding processes.
The Standing Notice of Funds Availability (NOFA) is the Department's cornerstone strategy to stimulate mixed-income and affordable housing development across the cityscape. The NOFA enables developers to reach for gap financing when needed, giving year-round opportunities to apply for various housing funds. Announced by the City of Dallas, with each monthly reminder, general updates to this NOFA operation will now be included, ensuring everyone at the table has the latest intel. While subsisting on a virtual platform for now, the meeting's interactive format through Microsoft Teams allows for a one-on-one discourse on various related topics, from scoring rubrics to eligible expenditures.
In addition to the conclave's agenda of funding and processes, developers previously left in limbo with a rejected NOFA proposal now have a lifeline. As detailed in the city's dispatch, upon denial, developers will be offered a follow-up sit-down to dissect their proposal, an essential step towards refining their next pitch.
