The City of Raleigh announces the availability of $2 million in funding and building sites via long-term land leases to support the creation of transitional housing and affordable rental projects in which at least one-third of the units are targeted to the <30% AMI rent and income level.
Donor Name: City of Raleigh
State: North Carolina
Type of Grant: Grant
Deadline (mm/dd/yyyy): 01/21/2022
The City of Raleigh’s Community Development Division of the Housing & Neighborhoods Department announces the availability of $2 million in funding and building sites via long-term land leases to support the creation of transitional housing and affordable rental projects in which at least one-third of the units are targeted to the <30% AMI rent and income level.
- Transitional Housing: Funds may be requested to acquire and preserve rental units functioning as transitional housing or to construct transitional units on City-owned lots via land lease. Transitional units may be proposed for individuals exiting inpatient treatment programs or institutional settings or for individuals or households for whom permanent housing under the Housing First approach is not yet the preferred option. It is anticipated that transitional housing residents will pay little, if anything in rent and therefore, funds may be requested for 100% of the project development cost. Responders must describe a funding plan for maintaining and operating the transitional units for a period of not less than 20 years. Potential sources of operating funds include City of Raleigh or Wake County grants funded via HUD entitlement programs or general funds or foundation/philanthropic support. Responders must document successful track records in obtaining adequate operating funds. Proposals indicating operating support from unidentified foundation or philanthropic sources will not be considered.
- Small-Scale Rental Projects: Funds may be requested to acquire and preserve affordable rental units or to construct affordable rental units on City-owned lots via land lease. Not less than one-third of the total units must be reserved for, and affordable to, households with incomes at <30% AMI. The remainder of the units may have rents up to 80% AMI if the one-third at 30% AMI percentage is exceeded or 60% AMI if the 30% AMI percentage does not exceed one-third. Responders are encouraged to exercise creativity in configuring unit mixes given the missing middle options now allowed by the UDO. As an example, a duplex unit at the 60% AMI rent and income limit coupled with an ADU at the 30% AMI rent and income limit would satisfy the income targeting requirement.
Funds and/or building sites are only available to non-profit developers or to partnerships between a mission-based non-profit and a for profit developer. The City is seeking participation by multiple non-profit responders.
For more information, visit NOFA.