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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