Funds Available for Affordable Housing Development
Community Affordable Housing Equity Corporation (CAHEC) is currently accepting applications for the 2011 Open Doors Homeownership Grant. Four grants of up to $10,000 each are available through a competitive process to nonprofit organizations developing affordable housing for sale to low-income households. Organizations must be located within and primarily serve Alabama, Florida, Georgia, Kentucky, Maryland, North Carolina, South Carolina, Tennessee, Virginia, Washington, D.C., or West Virginia.
The Open Doors Homeownership Grant is not intended to provide gap financing for the construction of affordable housing. Rather, because nonprofit developers often incur expenses not listed in a development budget, CAHEC designed the Open Doors Homeownership Grant to supplement the soft costs associated with developing housing. Eligible expenses include, but are not limited to, training, travel, marketing, and consultants.
Please visit the CAHEC website for eligibility requirements and to download the application. The postmark deadline for submitted applications is July 20, 2011.