The City and Borough of Juneau (CBJ) accepting applications Juneau Affordable Housing Fund (JAHF) to promote the creation of affordable housing in the Capital City.
Donor Name: City and Borough of Juneau
State: Alaska
County: All Counties
Type of Grant: Grant
Deadline: 08/23/2024
Size of the Grant: $10,000 to $100,000
Grant Duration: Grant Duration Not Mentioned
Details:
Program Goals and Objectives
The primary purpose for establishing the JAHF is to direct financial resources for creation of affordable (0% to 80% area median income (AMI)) and middle-income housing units (80% to 120% AMI) in the City and Borough of Juneau through the following activities:
- Funding capital costs of rental and ownership housing;
- Funding for capacity‐building activities of non‐profit housing developers;
- Leveraging CBJ investments with other fund sources to maximize the number of quality affordable and middle-income housing units that are created or preserved.
Funding Priorities
The following are priorities of the JAHF in line with the priorities of the CBJ Housing Action Plan.
- Use of Capital to Develop Housing Units: Funding for capital costs for acquisition, construction, rehabilitation, or preservation of affordable or middle-income housing, senior housing, and possibly homeowner opportunities.
- Long‐Term Affordability: Units created using JAHF funds that include affordability covenants or that are permanently affordable are preferred.
- Downtown Housing Development: Units developed within the boundaries established by the Downtown Juneau Residential Tax Abatement Map, Ordinance 2021-01(c)(am) .
Funding Information
Funds will typically be made available in the following forms:
- Grants for non-profit organizations and public housing authorities targeting households in the affordable housing range (0% to 80% AMI), and;
- Low-interest loans for private developers building affordable or middle-income housing;
- Long-term rental units, with restrictions on short-term rentals; and
- Qualifying projects are eligible for grants and loans up to $50,000 per housing unit created and for other eligible uses on a similar per-unit basis.
- For profit-developer projects utilizing JAHF funds for middle-income housing must reserve at least 20% of units for tenants with gross incomes at 80% or less AMI for at least ten years or the life of the loan.
Uses of Funds
Funding is available for the following uses:
- For acquisition, construction, rehabilitation, or preservation of affordable housing located within the City and Borough of Juneau, including activities such as:
- Purchase of developable real estate;
- Fees for architects and other professionals;
- Demolition to make way for affordable or middle-income housing;
- Building materials and labor costs.
- Costs incurred by nonprofit organizations to develop or implement a specific affordable or middle-income housing project. Examples include:
- Capacity building such as training, legal, and accounting costs;
- Technical assistance such as development consultants.
Eligibility Criteria
- Public and regional housing authorities
- Non-profit organizations
- Tribal governments
- For-profit developers.
For more information, visit CBJ.
