Today, The Mayor’s Office of Housing Policy and Community Development (OCD), in partnership with the Office of Cultural Economy, and the New Orleans Tourism and Cultural Fund (NOTCF), announced the launch of the City’s Cultural Bearers First-Time Homeownership Program. This innovative initiative is designed to bridge the affordability gap for cultural bearers, supporting their dreams of homeownership and fostering generational wealth within the New Orleans community.

“This program is a testament to our unwavering commitment to protecting and uplifting the culture of New Orleans,” said Mayor LaToya Cantrell. “Our cultural bearers are the soul of our city, and by investing in their dreams of homeownership, we are not only ensuring their stability but also safeguarding the traditions, music, art, and history that make New Orleans a global treasure. This is about building generational wealth and preserving the legacy of New Orleans for years to come.”

The Cantrell Administration will invest $300,000, utilizing U. S. Department of Housing and Urban Development (HUD) Community Development Block Grant (CDBG) funds, to provide down payment assistance in the form of interest-free forgivable loans, or “soft seconds,” to eligible first-time homebuyers. These loans, which cannot exceed $60,000 per applicant, will help cover down payment assistance and/or closing costs. Loan amounts will vary based on household income, family size, and demonstrated need.

“This is an investment to preserve the heritage and culture of New Orleans,” said OCD Director Tyra Johnson Brown. “Through homeownership, our artists and musicians can continue to carry forward the cultural traditions in a home of their own to be passed down to future generations.”

Eligible participants must meet specific qualifications, including completing an approved homebuyer training program, securing mortgage approval through an approved lender, and meeting income requirements (income cannot exceed 80 percent of the area median income; $48,650 for one-person households). Participants will also receive homebuyer education to equip them for long-term success as homeowners.

To qualify, the buyer must:

• Complete homeownership training by one of the HUD Approved Homebuyer Training Agencies
• Qualify for a first mortgage by an approved lender
• Meet HUD’s 80 percent Area Median Income Guidelines –Income Guideline Chart

New Orleans Cultural Bearers, individuals deeply connected to and representative of the unique cultural heritage of New Orleans, play a vital role in sustaining the City’s identity. This program, guided by NOTCF’s tagline “Culture is our Open Door” underscores the City’s commitment to empowering these individuals to build stability and generational wealth through safe, affordable homeownership.

“This initiative reflects our collective commitment to preserving and empowering the cultural heartbeat of New Orleans,” said Lisa Alexis, President/CEO of NOTCF and Director of OCE. “Homeownership offers stability and pride while ensuring that the artists who define our City’s identity can thrive here.”

Cultural Bearers First-Time Homeownership