The Los Angeles County Department of Economic Opportunity (DEO) is launching the Commercial Acquisition Fund (CAF) to provide grants to qualifying nonprofit organizations to support the acquisition of vacant or abandoned land and buildings in designated communities that were most negatively impacted by the COVID-19 pandemic.
Donor Name: Los Angeles County Department of Economic Opportunity
State: California
County: Los Angeles County (CA)
Type of Grant: Grant
Deadline: 05/20/2024
Size of the Grant: More than $1 million
Grant Duration: Grant Duration Not Mentioned
Details:
The program goal is to acquire vacant or abandoned commercial properties in Los Angeles County, particularly those identified as highest and high need areas per the County’s COVID-19 Vulnerability and Recovery Index in the Equity Explorer Tool.
Funding Information
The CAF is funded by the County, with $10 million in American Rescue Plan Act (ARPA) funds and will be awarded as recoverable grants, ranging from $500,000 to $2,000,000.
Eligibility Criteria
To be eligible to receive these funds you must meet the following requirements to become a Qualifying Acquisition Entity (QAE):
- Be an active nonprofit (including community development corporations / community land trusts).
- Be a LA County certified business partnered with a non-profit.
- Not be disbarred by federal, State, or local government entity or have unresolved violations noted in the County’s contracting database.
For more information, visit DEO.
