Notice of Funding Availability (NOFA) for Housing Developments
Issue Date: April 8, 2025, Due Date: April 30, 2025
The RED Housing Fund (RHF) is pleased to announce the release of a Notice of Funding Availability (NOFA) for up to $5,000,000 in loans to developers in Sonoma County that have projects meeting the RED Criteria: located on an infill site, mid to high density development, residential or mixed-use residential, and located within a transit-rich or planned area (see NOFA Terms and Conditions). With this funding, RHF intends to offer flexible financing in order to support and catalyze the development of housing across income levels, and in a way that protects the environment, supports economic renewal, builds disaster resiliency and improves the well-being of Sonoma County residents.
Loans are available to projects at all income levels: affordable (units primarily restricted to incomes up to 80% AMI), middle income (units primarily restricted to incomes up 80-120% AMI), and market rate; or a mix of income levels. Consideration of projects will be based on RHF’s funding availability for projects that meet the requirements set forth in the NOFA.
Qualified developers/project sponsors (“Applicants”) that meet the NOFA requirements are encouraged to submit proposals. Eligible Applicants include for-profit or non-profit corporations, individuals, general or limited partnerships, or limited liability companies.
Application Process
- Interested applicants may download application materials here.
- Application: If you intend to apply, please email apply@redhousingfund.org and request a link for secure file uploads. Hard copies will not be accepted.
- Due Date: The Housing Loan Application and all required information/ attachments must be uploaded no later than Wednesday April 30, 2025 at 6:00 pm.
- Selection: Applications will be reviewed for completeness and evaluated for competitiveness by the RHF and its agents. Interviews may be scheduled at the request of the RHF. RHF intends to issue recommendations for funding no later than June 4, 2025. Applicants who are recommended for funding should expect to and will be required to provide additional due diligence materials as part of the underwriting and approval process.
- For additional information: Please submit questions to apply@redhousingfund.org by April 18, 2025.
Previous Funding Recommendations
Previous NOFA issued on December 21, 2021 awarded funding to the following projects:
- Acme Family Apartments, located at 1885 Roseland Avenue, featuring 77 one-, two-, and three-bedroom units affordable to households earning between 30-60% of the Area Median Income (AMI), $800,000.
- Aviara, located at 1385 West College Avenue, featuring 136 units of two- and three-bedroom units affordable to households earning between 30-60% of AMI, $2,400,000.
- Casa Roseland, located at 665 Sebastopol Road, featuring 75 one-, two-, and three-bedroom units affordable to households earning between 30-60% of AMI, $4,200,000.
- 420 Mendocino Avenue Apartments, located at 420 Mendocino Avenue, featuring 163 studio, one- and two-bedroom units in the heart of downtown Santa Rosa, $7,000,000.
- Pullman Lofts, located at 701 Wilson Street, featuring a total of 114 one- and two-bedroom workforce-attainable units across three phases of development, $2,300,000 (decreased to $1,300,000 based on senior lender requirements).
- South Park Commons, located at 702 Bennett Valley Road, featuring 62 studio, one-, two-, and three-bedroom units affordable to households earning between 15-50% of AMI, $4,000,000.