Operating Assistance Program (OAP)

The Operating Assistance Program was created to support operating expense shortfalls in properties currently within MHDC’s multifamily housing portfolio.

Minimum Eligibility Requirements

Applicants must meet the eligibility criteria below. Additional eligibility criteria and submission requirements will be outlined in the Application and Submission Guide. Eligibility determination is at the complete and sole discretion of MHDC.

• Property is currently in MHDC’s compliance portfolio; and
• Property is within the initial tax credit compliance period, or the property is within the loan affordability period as detailed in its Regulatory Agreement; and
• Property has an Expense or Debt Coverage Ratio below 1.20 for two consecutive calendar years as outlined in the Notice of Funding Availability (NOFA); and
• Property is in compliance with MHDC and specifically MHDC’s Asset Management compliance policies prior to the deadline outlined in the NOFA, which includes, but is not limited to, the submission of the Annual Owner Certification and audited financial statements for each of the calendar years stated in the NOFA; and
• Property was subject to MHDC Asset Management compliance policies for each of the calendar years stated in the NOFA for the most recently awarded MHDC funding for the property.

Application Process

The application process and deadlines will be outlined in the Notice of Funding Availability (NOFA) and the Application and Submission Guide.

OAP CY2026 NOFA

OAP CY2026 Application and Submission Guide (available approximately August 1, 2025)