For information on the Gustav/Ike Piggyback Program, click here.
The LIHTC-CDBG program (referred to as the “Piggyback” program in the Louisiana Recovery Administration Action Plan) supports affordability for especially low-income Louisianans in properties receiving Gulf Opportunity Zone Low Income Housing Tax Credits. The Program also supports the production of three types of eligible properties through four types of funding mechanisms.
Click here to see a description for more information on the Piggyback Program.
Piggyback Round 2
Final Program Summary (Application Guidelines)
The Program’s objective is to finance the development of additional workforce rental housing in the GO Zone. LRA/OCD envisions using a combination of $80 million of Community Development Block Grant (“CDBG”) funds, commensurate tax-exempt bond authority through the LHFA, and 4% Low Income Housing Tax Credits (LIHTCs) also through the LHFA. LRA/OCD reserves the right to decrease the level of CDBG funding prior to the deadline for accepting applications in the event that the LRA/OCD finds it necessary to use these funds to address a housing crisis that presents an emergency for the State of Louisiana. The LRA/OCD may also increase the amount of funding if additional funds become available.
OCD Piggyback Program Legal Documents
- CDBG Piggyback Program Intercreditor Agreement
- CDBG Piggyback Program Subordination Agreement
- CDBG Piggyback Program Project Based Rental Assistance Contract
- CDBG Regulatory Agreement
- CDBG Piggyback Program Operating Deficit Guaranty
- CDBG Piggyback Program Cash Gap Financing Note
- CDBG Piggyback Program Performance and Completion Guaranty
- CDBG Piggyback Program Gap Financing Loan Agreement
- CDBG Piggyback Program Gap Financing Loan Agreement (PARI PASSU FINANCING)
- CDBG Piggyback Program Mortgage, Assignment of Leases and Rents and Security Agreement