Department of Commerce

Coal Trust Multifamily Homes Program

The Multifamily Coal Trust Homes Program makes available $15 million of Coal Tax Trust Fund dollars to develop affordable rental homes by providing developers with low-interest rate loans. The program is a result of House Bill 16 that was passed during the 2019 legislative session. Multifamily Coal Trust loans can be used for projects such as new construction, acquisition and/or rehabilitation of existing multifamily rental homes, acquisition of land for multifamily rental homes and land trusts for rental and mobile or manufactured homes.

Maximum Award Amount

See funding website for loan terms.

Cost Matching

N/A

Eligible Applicants

Eligible applicants include non-profit, for-profit or government entities.

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