The City of Raleigh is accepting applications for its Small Scale Rental Development grant program.
Donor Name: City of Raleigh
State: North Carolina
City: Raleigh
Type of Grant: Grant
Deadline: 04/05/2024
Size of the Grant: $1000 to $10,000
Grant Duration: Grant Duration Not Mentioned
Details:
The City of Raleigh Community and Small Business Development Division of the Housing & Neighborhoods Department (Department) announces the availability of the following:
- $2,000,000 for gap financing from Affordable Housing Bond (Bond) proceeds to support the creation and preservation of affordable rental units;
- $150,000 for an optional solar incentive that provides funding for projects that meet certain solar criteria; and,
- City-owned building sites via long-term land leases to support the creation of affordable rental projects.
Funding Information
Through this NOFA, the Department and Office of Sustainability are making available a total of $150,000 in grant funding with a maximum per unit amount of $5,000.
Eligibility Criteria
Gap financing funds and City-owned building sites are available to non-profit developers or to partnerships between a mission-based non-profit and a for profit developer.
For more information, visit City of Raleigh.