Are HUD's Federal Affordable Housing Grants For Your Nonprofit?

Hooray! The U.S. Fed cut interest rates for the first time in four years by .5%.

Will that mean mortgage rates will be cut across the board, making it easier for potential home buyers to buy homes? We shall see, but historically this is how it has panned out.

The federal agency responsible for the bulk of housing-related grant funding is the U.S. Department of Housing and Urban Development or HUD.

Established under the U.S. Housing Act of 1937, HUD's mission is to "create strong, sustainable, inclusive communities and quality affordable homes for all."

Did you know HUD has a strategic plan?

HUD's 2020-2026 Strategic Plan has five goals:

1. Strategic Goal 1: Support Underserved Communities- Fortify support for underserved

1. communities and support equitable community development for all people.
2. Strategic Goal 2: Ensure Access to and Increase the Production of Affordable Housing- Ensure housing demand is matched by adequate production of new homes and equitable access to housing opportunities for all people.
3. Strategic Goal 3: Promote Homeownership- Promote homeownership opportunities, equitable access to credit for purchase and improvements, and wealth building in underserved communities.
4. Strategic Goal 4: Advance Sustainable Communities-Advance sustainable communities by strengthening climate resilience and energy efficiency, promoting environmental justice, and recognizing housing’s role as essential to health.
5. Strategic Goal 5: Strengthen HUD’s Internal Capacity- Strengthen HUD’s internal capacity and efficiency to ensure better delivery of HUD’s mission.

If any of your nonprofit programming includes housing or housing adjacent wrap-around services, you may be in luck, especially for additional funding, pending the outcome of upcoming elections. If you need help thinking through or creating programming that aligns with these goals to receive funding, contact us. Always start this program design process way before a grant announcement takes place.

To truly be ready for HUD or any other federal funding, be sure to register on grants.gov. Here is a clip on how to register on grants.gov. Many cities have plans to expand affordable housing, so do not overlook local dollars. For example, Atlanta Mayor Andre Dicken's "A City of Opportunity For All" plan seeks to preserve 20,000 units of affordable housing across Atlanta by 2030.

Are you ready to pursue affordable housing grants? What are some of the things your nonprofit will need to consider before taking the leap?

-Shavonn

Need help? Schedule a complimentary consultation today: www.thinkandinkgrants.com.

About Shavonn V. Richardson, MBA, GPC

Shavonn is the Founder and CEO of Think and Ink Grant Consulting. As a former nonprofit leader and grantmaker, Shavonn has over 20 years of experience delivering practical, real-world advice to nonprofit leaders nationwide.??Shavonn earned the GPC (Grant Professional Certified) credential from the Grant Professionals Certification Institute in 2020 and is a Grant Professionals Association Approved Trainer. Shavonn also serves as President of the Grant Professionals Association.

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