SMART Loan
REQUEST FOR APPLICATIONS FOR FNO’s SMART LOAN Program
RFA & APPLICATION DOCUMENTS
Click links below to download the program documents
- SMART Loan Request for Applications – Rental
- SMART Loan Request for Applications – Community Land Trust Mixed-Tenure
- SMART Loan Application
- SMART Loan Financial Model – Rental
- SMART Financial Model – Community Land Trust Mixed-Tenure
- 2026-2027 HUD AMI & Rents
APPLICATION INFORMATION SESSION
Finance New Orleans will host a virtual information session for potential applicants on Friday, August 14th from 10:00-11:00 a.m. CST.
- Register to attend the webinar through this link.
On this webinar, FNO will review key program requirements and instructions for submission. FNO will also provide responses to frequently asked questions submitted to htf@financeauthority.org prior to August 12th at 12 p.m. Attendance is encouraged but not required.
Key Dates
- Thursday, August 6th – Final program guide and application released
- Wednesday, August 12th by 12 p.m. CST – Deadline to submit questions to be addressed in the info session
- Friday, August 14th from 10:00-11:00 a.m. CST – Virtual Info Session for applicants
- Friday, September 11th by 4 p.m. CST – Application Due Date
- Week of September 28th (Anticipated) – Conditional Award Letters Issued
What is SMART?
The SMART (Small Multifamily Affordable, Resilient, Transformational) Loan Program helps developers build and rehabilitate affordable triplexes and fourplexes throughout New Orleans. Supported by the City of New Orleans Housing Trust Fund and administered by Finance New Orleans, SMART provides financing for affordable rental housing and mixed-tenure homeownership developments that expand housing opportunities, strengthen neighborhoods, and encourage resilient construction practices.
Created to increase the supply of quality affordable housing, SMART also supports small and emerging developers committed to investing in New Orleans communities. The program helps close financing gaps for projects that deliver long-term affordability, resilient design, and lasting community impact. By supporting both affordable rental developments and projects that combine homeownership and rental opportunities, SMART helps create stronger neighborhoods and more housing choices for New Orleans residents.
Affordable Rental Developments
Program Highlights:
- Approximately $125,000 per affordable unit
- Half of units under 60% AMI
- No units above 80% AMI
- Minimum 30-year affordability period
- Triplex and fourplex developments prioritized
Mixed-Tenure Homeownership Developments
Program Highlights:
- Approximately $70,000 per affordable unit
- Homeownership units affordable to households at or below 100% AMI
- Affordable rental units integrated into the development
- Minimum 10-year homeownership affordability period and 30 year rental affordability period
- Applicants must be a Community Land Trust (CLT) or apply in partnership with a Community Land Trust
Eligibility Qualifications
Who can apply?
Eligible applicants include:
- Nonprofit housing organizations
- Community development organizations
- Registered LLCs and Special Purpose Entities (SPEs) in good standing
- FNO welcomes affordable housing developers and small or emerging developers to apply
ELIGIBLE PROjects
SMART financing may be used for:
- New construction
- Substantial rehabilitation
- Triplex developments
- Fourplex developments
- Affordable rental housing
- Mixed-tenure developments with a Community Land Trust partner
- Redevelopment of blighted or underutilized properties
Resilience & Housing Quality Standards
SMART encourages developments that go beyond minimum building standards and create housing that is durable, efficient, and prepared for future climate challenges. Examples include:
- FORTIFIED Roof™ construction
- Energy Star appliances
- High-efficiency building systems
- Stormwater management features
Funding Availability
Program funding is expected to support projects between 2026 and 2028.
Total Program Funding: Approximately $3.3 Million
Target Impact:
- 26–53 affordable housing units
- 6–10 development projects
Application Timeline
Program guidelines, application materials, and funding availability will be announced soon. Developers are encouraged to join the interest list to receive updates on:
- Program guidelines
- Application release dates
- Information sessions
- Funding opportunities
- Technical assistance resources
Ready to Build Affordable Housing in new orleans?
Finance New Orleans is investing in affordable, resilient housing that helps families thrive and neighborhoods grow.
Send your questions about the SMART Loan to htf@financeauthority.org
