Funding Opportunities for Housing Cooperatives



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NAHC Government Relations Committee

Funding Opportunities for Housing Cooperatives

March, 2009

Opportunities Color-Coded

|Opportunities for individuals. The cooperative could |

|facilitate this project for members |

|Opportunities for the coop itself |

|Possible coop development |

Please check the websites and your individual State office for

information on how the funding is allocated in your state.

Treasury Department

|1. |First Time Homebuyer Tax Credit - Extension of and increase to first time homebuyer refundable tax credit |

| |(home purchased before 12/31/09). *Purchases of cooperatives are included. Amount: Lesser of $8,000 or 10%|

| |of purchase price. |

|2. |Low Income Housing Tax Credit Exchange (Treasury and State housing credit agency) Grants to States for |

| |Low-Income Housing Projects. Treasury grants are given to the housing credit agency of each State in an |

| |amount equal to such State's low-income housing grant election amount. |

Department of Energy

|3. |Existing Homes Energy Efficiency Tax Credit. |

| | Extension and modification |

| |of credit for nonbusiness energy property. Modifies some of the |

| |standards for energy efficient building property and energy |

| |efficiency improvements. Amount: 30% tax credit/ not to exceed |

| |$1500 |

|4. |Energy Efficient Appliance Rebate Programs energy. |

| |$300 million for the Energy Star Program and for matching grants for state rebates to consumers for buying|

| |energy efficient Energy Star products to replace old appliances |

Department of Energy (continued)

|5. |Clean Energy Bonds eere. |

| |Increase of $2.4 billion for loans and grants for Green Community Programs. |

|6. |Weatherization Assistance Program (WAP) Grants to low-income |

| |families for home weatherization. Total Funds Available: $5 billion for grants of up to $6,500 per |

| |dwelling unit. Technical assistance and training of up to 20% of total program amount. |

|7. |State Energy Program (SEP) |

| |$3.1 billion for the Department of Energy’s (DOE’s) State Energy |

| |Program (SEP), which provides grants and funding to state |

| |energy offices for energy efficiency and renewable energy |

| |programs. |

Department of Housing and Urban Development (HUD)

|8. |Community Development Block Grant |

| |Program Description: To provide additional funding under the |

| |Community Development Block Grant program (CDBG) |

| |Total Funds Available: $1 billion |

| |Eligible Recipients: States and localities eligible CDBG recipients |

| |that received funding in FY 2008. Federal Delivery System: To be |

| |distributed using the usual CDBG funding formula. |

|9. |Neighborhood Stabilization Program |

| |Community Development Block grant |

| |Amount: $1 billion |

| |Purchase and rehab foreclosed and vacant properties. Amount: $2 billion |

| |Website: offices/cpd/ |

|10. |HOME Investment Partnership |

| |Community Planning and Development |

| |Coordinate low income tax credits to fill financing gaps to accelerate production and preservation of |

| |affordable housing |

| |Amount: $2.25 billion |

| |Websites: offices/cpd & recovery/tax-credit.cfm |

|11. |Assisted Housing Stabilization & Energy & Green Retrofit Housing |

| |Investments Amount: $2.25 billion |

| |Project based rental assistance. Amount: $2 bil. for sec. 8 |

|12. |Lead Hazard Reduction |

| |Grants for lead reduction and abatement. |

| |Total Funds Available: $100 million: Up to .5% for staffing, training, technical assistance, technology, |

| |monitoring, travel, enforcement, and research and evaluation |

Department of Housing and Urban Development (HUD) (cont’d)

|13. |Energy Efficiency Retrofits in Assisted Multifamily Housing (Office of Affordable Housing). Loans and |

| |grants for energy-efficient retrofits and green investments in assisted multifamily housing, specifically |

| |project-based Section 8, 202 (elderly) and 811 (disabled) housing. |

| |Total Funds Available: $250 million |

| | |

Department of Health and Human Services

|14. |Community Services Block Grant |

| |Program Description: To provide States with funds to alleviate the causes and conditions of poverty in |

| |communities through statewide or local grantees. |

| |Total Funds Available: $1 billion |

| |Federal Delivery System: Office of Community Services within the Administration for Children and Families |

| |within the Department of Health and Human Services disburses the mandatory block grant to the eligible |

| |recipients through a formula based on each State's poverty population |

Administration on Aging

|15. |Aging Services Programs - Supplemental funding, Amount: $100 million |

Department of Commerce merce,gov

|16. |Wireless and Broadband Loan Guarantees and Grants |

| |Program Description: Enhance broadband service to underserved regions of the country. Total Funds |

| |Available: $7.2 billion, of which $4.7 billion is appropriated to the Broadband Technology Opportunities |

| |Program (Commerce) Eligible Recipients: City, State, Non-profits Federal Delivery System: Broadband |

| |Technology Opportunities |

|17. |Economic Development Assistance Grants |

| |Funds Available: $150 million |

| |Eligible Recipients: Includes private non-profit organization or association, private individual or |

| |for-profit organization, but only for Training, Research and Technical Assistance Investments pursuant |

| |Federal Delivery System: Competitive Grants through the Department of Commerce Economic Development |

| |Administration |

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