The Downtown Housing Grant provides financial assistance for projects that support local downtown revitalization through new and renovated housing opportunities in communities under 30,000. This funding will invest in projects that include:
- Building rehabilitation projects that increase local upper floor housing options,
- Projects that incorporate quality design and preservation-based strategies,
- Projects that support local revitalization efforts and stimulate additional district investment.
Projects creating or improving under 10 housing units are eligible for $100,000 to $300,000. Projects creating 10 plus units are eligible for $100,000 to $600,000.
- Project must be located within the vicinity of the downtown area.
- The participating City must be the applicant for the Downtown Housing Grant in partnership with the local project owner/representative.
- No more than one (1) Downtown Housing Grant applications will be accepted per incorporated city.
- Grant requires a 25% local match.
- 24-month grant period
ELIGIBLE PROJECTS FOR FUNDING CONSIDERATION
- Project must be located in a community under 30,000 in population (2020 census).
- The focus of the project must be the creation of new housing.
- Project can include one building per community or two buildings with same ownership that are adjacent.
- Vacant school buildings or other large, underutilized facilities within the vicinity of the downtown area.
- Project expenses can include:
- Upper floor rehabilitation for housing
- Structural stabilization of historic downtown buildings
- Exterior building improvements relating to housing project
- Code and accessibility improvements
- Exterior building amenities that directly complement the housing project (e.g. rooftop, patios, tenant parking, etc.)
- Residential units will be subject to amenity requirements including laundry
- Projects that include first floor storefront housing or residential temporary lodging
- Projects that are located outside of the downtown district vicinity
- Projects that do not include a housing element
- Acquisition costs are not considered part of the project costs or eligible expenses