Targeted towards high-opportunity communities
Posted on March 17, 2010
BOSTON, March 17, 2010 --- The Massachusetts Housing Partnership announced today that it is accepting applications for new grant funds to help communities determine the feasibility of producing affordable rental housing.
MHP is funding this technical assistance and pre-development program through its bank-funded Neighborhood Rental Initiative as well as a grant from the state's Department of Housing and Community Development. Grant amounts will be determined according to the complexity and size of the development a community proposes. Successful applicants would likely receive initial awards in the $10,000 to $15,000 range, with the possibility of receiving additional funds if the proposal moves forward.
This program has been targeted to 221 high opportunity communities characterized by good schools, proximity to jobs, high housing costs, and a shortage of affordable housing. Eligible communities were determined through a review of a study by the Kirwan Institute at Ohio State University, which analyzed where low income groups and ethnic populations in Massachusetts are living in relationship to geographic areas of high opportunity.
The initial application deadline is April 30, 2010. If funds remain after the first round of project awards are made, the program will continue to take applications on a rolling basis until Dec. 31, 2010, or until the fund is exhausted. Applicants must be municipalities or municipal entities and cannot be past recipients of MHP technical assistance grants and/or other state funded pre-development programs such as DHCD's Priority Development Fund (PDF) program.
The grants are intended to provide technical assistance to help communities assess the feasibility of developing new affordable rental housing for families. This includes, but is not limited to, HOME-eligible housing. To be considered HOME-eligible, projects must include rental housing that serves families under 60 percent of area median income (AMI). Eligible projects must create a minimum of six new units of affordable rental housing. The maximum amount a project could receive is $35,000.
For more information, send an email to info@mhp.net.
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