Funding available for Homeownership Projects in Washington
The Department of Commerce is soliciting applications from affordable housing projects seeking funding in the 2024 funding cycle for Homeownership projects.
Donor Name: Washington State Department of Commerce
State: Washington
County: All Counties
Type of Grant: Grant
Deadline: 09/24/2024
Size of the Grant: More than $1 million
Grant Duration: Grant Duration Not Mentioned
Details:
This Notice of Funding Availability and Solicitation (NOFA) is intended for applicants seeking to create affordable housing units or otherwise undertake activities resulting in an increase of affordable housing stock in Washington State.
Funding Information
The following limits apply to all Homeownership applicants: Per Project: The maximum award per homeownership project is $4 million for new construction and $2 million for DPA and Affordability Subsidy.
Geographic Categories
Projects are grouped into one of three geographic categories to facilitate distribution of funds across the state in compliance with RCW 43.185A: 30% of funds to projects in Rural areas. These categories are:
Rural
King County
Urban (not King County)
Applications may be submitted for:
down payment assistance revolving loan fund (RLF)
self-help projects
short-term production loans
affordability subsidy for long-term or permanent affordable resale restricted programs (such as Community Land Trusts or deed restricted programs)
any other Housing Trust Fund-eligible project types
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