LHT subsidizes the production of new affordable housing units (for sale, rental, and transitional housing) through new construction, substantial rehabilitation of vacant units or conversion of non residential buildings to residential use. LHT will provide project-specific loans up to $30,000 per unit to construct new units or rehabilitate vacant housing units for sale or rent to low and moderate income households. Funds can be used for construction loans, bridge loans, lines of credit, and permanent financing. LHT funds often are combined with subsidy from other entities to reduce the cost of housing for low and very-low income families. Funds are awarded through a competitive application process.
Homeownership Docs
Rental Docs
Transitional Housing Docs
Other Docs
LHT will provide non amortizing subordinate mortgage loans to lower the purchase price of a home for qualified persons in Berkeley, Charleston, and Dorchester counties on a first come, first ready basis. Applications will be accepted from developers, government entities, and current LHT lending partners for all or a portion of closing costs, all or a portion of down payment, or to reduce the principal amount of a first mortgage for low and moderate income households. Applications are accepted and evaluated continually throughout the year. Funding is limited.
- PROGRAM TEMPORARILY SUSPENDED!
LHT will make loans up to $10,000 for predevelopment expenses associated with the construction or rehabilitation of specific affordable housing projects. Non profit and for profit affordable housing developers may apply when other private or public funds cannot be acquired, to expedite project development, or to reduce cost of borrowing funds through a conventional lender. Applications are accepted continuously. Eligible uses include but are not limited to: land options, down payments, architectural and engineering fees, site surveys, soil test borings, market studies, appraisals, environmental engineering studies, archeological clearances, and legal expenses related to site acquisition, zoning or permitting.
LHT will make short-term loans to expedite completion of affordable housing projects in which loans or grants are committed but not disbursed. Applications are accepted continuously and reviewed promptly. Funds must be used for specific project related costs. Eligible uses include but are not limited to: acquisition, infrastructure, or construction costs.
Charleston Water, with technical assistance from LHT, has devised a program of regulatory and financial incentives for private and public sector builders to produce affordable housing within the utility’s service area. This program will lower barriers to affordable housing production by deferring and reducing the payment of water and wastewater impact fees. For each residential unit certified by LHT as affordable to low income households, Charleston Water will: 1)reduce the engineering services portion of the water impact fee by $500; 2) reduce the engineering services portion of the wastewater impact fee by $500; and 3)defer payment of the water and/or wastewater impact fees until construction is complete.
Application Attachments
Sample Docs
PLANT A TREE PROGRAM
When no other source of funds is available, LHT will expend up to $500 to plant at least one tree and some foundation shrubs at for-sale houses receiving LHT Housing Production Program subsidy. Upon occupancy, LHT will engage a qualified individual to create a basic landscape plan, to select and install the plants and to advise the new homeowner about long-term maintenance. The purpose is to create a comfortable and attractive property that is a source of pride to the owner, an asset to the community and a catalyst for reinvestment in the neighborhood.
With the goal of expanding the production of high quality affordable housing in the tri-county region, LHT provides consulting and technical services to for profit and non-profit developers. LHT also encourages and assists municipalities to plan and zone to accommodate quality affordable housing that meets the needs of a diverse workforce.
These services include but are not limited to...
- Planning Assistance
- Zoning Assistance
- Coordinating the Development Process
- Identifying Funding Sources
- Indentifying Development Incentives
- Development Agreements
The LHT Lunch and Learn Series is designed to offer informal presentations of interest to LHT funding recipients. These hour long quarterly lunches will provide opportunities to discuss new projects, resources or solutions, and to share ideas and insights.
