Small Rental Development Program (SRDP)

Funds for rental applications will be available during the SRDP funding cycle on May 29-31, 2019. SC Housing has committed the following funding sources for this cycle:

• SC Housing Trust Fund – up to $13,500,000
• National Housing Trust Fund – up to $5,700,000
• HOME – up to $4,000,000

No less than $1,100,000 of the $4,000,000 in HOME funds will be set aside for SC Housing designated Community Housing Development Organizations (CHDOs). Funding sources other than those committed by SC Housing will be needed only if market-rate units are part of the development.

Final determinations of whether an applicant will receive repayable loans, forgivable loans, or a combination of both will be determined during the underwriting analysis. Repayable loans will have an interest rate ranging from zero to three percent (0% - 3%), and loan terms will typically be dependent on the funding programs affordability period. SC Housing reserves the right to reduce or increase funding sources during the underwriting process.

Please be advised that beginning Friday, January 17, 2020, through Friday, January 24, 2020, the SC Housing Development Division will not be able to process any draw or disbursement requests or issue any checks. All such requests received after Wednesday, January 15, 2020 will not be reviewed and processed until after January 27, 2020.

Questions regarding the Small Rental Development Program (SRDP) can be directed to Jennifer Cogan in the Housing Development Division at 803.896.9824.