Arizona Housing Fund Announces Grants Now Available

Elaina Verhoff

https://img.particlenews.com/image.php?url=361WtJ_0gHlgKZr00
Thousands of Arizonans are in need of permanent housing.Arizona Housing Fund

The Arizona Housing Fund, a private philanthropic effort to raise funds for additional permanent, supportive housing, has announced that Arizona nonprofit agencies that build and operate Permanent Supportive, Low-Income and Working Poor Housing can now apply for grant funding. Arizona Housing Fund equity grants will enable more housing units to be constructed, with the goal of reducing the number of people experiencing homelessness in the state.

“We have been working to establish a streamlined process and we are looking forward to now directing funding where it’s needed, when it’s needed, explains Arizona Housing Fund Founder Howard Epstein. “The ultimate goal is to provide more housing for Arizonans experiencing homelessness as soon as possible.”

To qualify for grant funding, organizations must be a non-profit affordable housing developer, owner or operator, have at least five years of experience managing and operating sustainable supportive housing, have received, in the previous 24 months, grant or loan funding from one of the following entities: LISC, the ACF Affordable Housing Pre-Development Fund, the Home Matters to Arizona Fund, Arizona Department of Housing, or an Arizona county, municipality or IDA, and be in good standing with that grantee and/or lender and current on loan payments, if applicable.

Local Initiatives Support Corporation (LISC) Phoenix, a partner of the Arizona Housing Fund, will collect and process grant applications. Nonprofits who have already been pre-qualified based on their history of developing supportive housing and managing grant funds can apply for funding with a simplified application. Those who have not yet been pre-qualified can complete the RFQ to become pre-qualified. Once approved, they can fill out a grant application when the need for funding arises. The Arizona Housing Fund Advisory Committee will then review and approve grant funding. Nonprofit developers can access the project application, pre-qualification standards and the RFQ at https://arizonahousingfund.org/grants/

There is currently $1 million available in the fund. Funding is distributed on a first come, first served basis for mission-aligned projects. The Arizona Housing Fund is intended for permanent supportive housing projects that serve the most vulnerable individuals and families earning up to 30% AMI.

“Unlike many grant programs, we plan to award grant funding on a rolling basis, not on a calendar grant cycle,” says Epstein. “The way these projects work, the need for funding doesn’t align with a pre-specified schedule. In many cases, affordable housing projects have been financed, and due to today’s rapidly rising of cost of materials, there is a gap that now needs to be filled. Arizona Housing Fund equity grants could mean the difference between a project moving forward or being put on hold.”

About Arizona Housing Fund
The Arizona Housing Fund (AZHF) is a dedicated sustainable fundraising source to help Arizona nonprofits build more affordable supportive housing and bring the homeless home. The Fund’s equity grants will enable more housing units to be constructed, with the goal of reducing homelessness throughout the state. Funding primarily comes from a voluntary escrow donation program, where homebuilders, developers, agents, and title companies participate in the program and give buyers and sellers an opportunity to donate to the AZHF. Tax-deductible donations from individuals, foundations, nonprofits, and for-profit corporations are also welcome. To learn more or to donate, visit arizonahousingfund.org.

About LISC Phoenix
LISC is one the country’s largest community development organizations, helping forge vibrant, resilient communities across America. We work with residents and partners to close systemic gaps in health, wealth and opportunity and advance racial equity so that people and local economies can thrive. Since our founding, LISC has invested $24 billion to create more than 436,320 affordable homes and apartments and develop 74.4 million square feet of retail, community and educational space.

LISC Phoenix was formed in 1992 and since its inception has collaborated with place-based organizations and our corporate, foundation and public partners to create an innovative approach to working with neighborhoods that face systemic challenges.

Comments / 20

Published by

Elaina Verhoff is a public relations professional and freelance writer in Phoenix, AZ.

Phoenix, AZ
169 followers

More from Elaina Verhoff

Comments / 0