The City of Vancouver is accepting applications for Housing Acquisition, Construction and Rehabilitation Projects.
Donor Name: City of Vancouver
State: Washington
City: Vancouver
Type of Grant: Grant
Deadline: 10/20/2024
Size of the Grant: $100,000 to $500,000
Grant Duration: 2 Years
Details:
Housing projects that increase and preserve affordable housing opportunity for households with low-income and people experiencing homelessness through the acquisition, construction or rehabilitation of rental or homeowner housing and homebuyer assistance programs. Housing assisted with HOME funds must include units meeting the following affordability requirements during the period of affordability:
- Rental housing: For households earning less than 60% AMI
- Homeowner housing: For households earning less than 80% AMI.
Funding Information
Amount Available: $400,000
- Housing Projects – Acquisition, Construction, and Rehabilitation
- Maximum Request: $400,000
- Minimum Request: $250,000
- Housing Projects – Homebuyer Assistance
- Maximum Request: $250,000
- Minimum Request: $100,000
Funding Period
HOME funds can generally be used for activities between July 2025 through December 2026.
Eligible Project Costs
Eligible project costs for acquisition, construction, or rehabilitation activities (Housing Projects, and Shelter Capital Projects) include but are not limited to the following:
- Appraisals
- Architectural fees
- Closing costs
- Homebuyer down payment assistance
- Inspections and surveys
- Insurance
- Construction, including sales tax
- Interest
- Development fees and permits
- Financing fees
- Engineering fees
- Environmental assessments and fees
- Gap financing
- Professional services
- Project management
- Purchase/acquisition
Eligibility Criteria
- Nonprofit agencies and public organizations may apply for funds. Private individuals are not eligible for funding awards. Applicants proposing Housing Projects must demonstrate, or have partners that demonstrate, experience developing, owning, and/or managing multifamily or homeowner housing.
- Agencies that have received two awards in this category and have not completed both projects, or have not started one, are ineligible to apply. However, agencies that have completed all previous contracts remain eligible.
Income and Rent Limits
- Projects funded must be located within the city limits of Vancouver.
- HUD establishes income and rent limits annually.
- People served with CDBG funds must earn 80% or less of area median income (AMI).
- Public service programs must serve people earning 50% or less of AMI.
- Housing assisted with HOME funds must serve people earning 60% of AMI (rental units) or 80% AMI (homeowner units) or less.
For more information, visit City of Vancouver.
