19 Sep 2022 Piggyback Resilience Initiative – Mixed-Income (PRIME 2) Resilience Requirements
On August 2022, the Louisiana Housing Corporation announced that $149 million in Community Development Block Grant Disaster Recovery (CDBG-DR) funds would be combined with 4% Low Income Housing Tax Credits (LIHTC) and bond-financed mortgage proceeds to create the Piggyback Resilient Mixed-Income V2 (PRIME2) program.
The goal of PRIME 2 is to develop resilient multifamily projects in areas impacted by Hurricanes Laura, Delta and Zeta in 2020. Awardees must use funds in combination with 4% LIHTCs. PRIME 2 a competitive program that requires affordable developments to use substantial disaster-resilience features.
This factsheet provides insights for meeting the disaster resilience requirements for PRIME 2, including changes to the 2020 Piggyback/PRIME (PRIME 1) requirements.
Fill out the form below to download your free copy of the 2022 PRIME 2 – Resilience Requirements Fact Sheet.