The Affordable Rental Gap Financing Program (ARGF) is a $1.5 million affordable rental housing loan fund developed by the New Orleans Redevelopment Authority (NORA) to provide subordinate financing for multifamily rental housing projects benefitting families at or below 80% of the Area Median Income.  The proposed projects may be located anywhere in Orleans Parish if they are utilizing current or formerly NORA-owned properties, but are restricted to NORA’s previously established commercial corridors if using non-NORA owned properties.  Loan funds may be used to reimburse hard construction costs only. To be eligible, projects must have secured or applied for the non-competitive 4% Low Income Housing Tax Credit (LIHTC) allocations offered by the Louisiana Housing Corporation (LHC) and/or Finance New Orleans.  Applications will be available on NORA’s website beginning February 21, 2022 and will be considered on a rolling basis until all funding is allocated. 

Questions? Email Project Manager, Kyle Gilmore, at This email address is being protected from spambots. You need JavaScript enabled to view it. or Project Coordinator, Charlotte Giroux, at This email address is being protected from spambots. You need JavaScript enabled to view it.

In addition to current or former NORA properties citywide, properties located within NORA’s 3 commercial corridor geographies are also eligible (See citywide map below for reference only. Please contact NORA staff to determine a specific property’s eligibility).

1. ORETHA CASTLE HALEY / BROAD
2. GENTILLY BOULEVARD
3. ST. CLAUDE AVENUE (including portions of N Claiborne Ave in the Lower Ninth Ward)