Tapping Into Other Funding Sources A Presentation for NCDA’s 2013 Winter Conference Washington, DC January 30 – February 1, 2013.

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Presentation transcript:

Tapping Into Other Funding Sources A Presentation for NCDA’s 2013 Winter Conference Washington, DC January 30 – February 1, 2013

Strategies: Who Gets Funded? City or Community Development Agency applies directly for the funding Steer funding to non-profit project or program sponsors carrying out priority projects Assisting non-profits to secure other resources to reduce dependence on CDBG Tapping in-kind resources such as colleges & universities Building capacity of non-profits and other partners

HUD Resources for City or CD Agency CDBG or HOME Program Income Section 108 Loan Guarantee (interest rate spread, can repay 10 – 20 yr. loan with repayments from 3 rd party borrower, CDBG funds or City general revenue). Lead Hazard Control or Lead Hazard Reduction Demonstration grants Continuum of Care Homeless grants Additional HOME and ESG funds from your state

Other Resources for City or CD Agency EPA Brownfields Assessment, Cleanup and Revolving Loan Funds City general fund (esp. for personnel) Housing Trusts, Impact Fees, Inclusionary Development (Boston’s Linkage, IDP cash out) Surplus Property Fund (Boston’s Leading the Way fund) Municipal Housing Bonds

Resources for Non-Profit Project Sponsors Steering funds to non-profit partners, especially for high projects and programs HUD Section 202/811 (rental assistance only, no capital grants). HHS/OCS Community Economic Development Grants and Healthy Food Financing Initiative HUD Housing Counseling Grants (local HCAs can apply for up to $210K, average grant is $45K. Must be certified. US Treasury CDFI Fund and Healthy Food Financing Initiative. Applicants must be certified

Resources for For-Profit Project Sponsors Low Income Housing Tax Credits New Markets Tax Credits Historic Preservation Tax Credits SBA loans

More Resources for Project Sponsors Federal Home Loan Bank through a participating member bank) Affordable Housing Program (grants & advances) See article in current issue of FHLB Results on “Funding Supportive Housing in Boston” Community Development Advances

Capacity-building Main Streets Program Main Streets Foundation Corporate Buddies Mayor’s Office of Intergovernmental Relations Funding Update for partners Political support for priority competitive grants DND Policy Development & Research Technical assistance with grants – maps, data, application review

In-Kind Resources Universities & Colleges Boston Urban Mechanics interns Kennedy School Policy Analysis Exercise on reverse mortgages Tufts University summer work-study student: data and report on condo conversions Suffolk University Law School fellowship: draft state legislation on tax credits for rehab of foreclosed properties

For More Information: Robert Gehret, Deputy Director Policy Development & Research Division City of Boston Dept of Neighborhood Development 26 Court Street, 8 th Floor Boston, MA Phone: