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Tapping Into Other Funding Sources

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

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Tapping Into Other Funding Sources

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

  2. 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

  3. 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 3rd 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

  4. 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

  5. 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

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

  7. 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

  8. 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

  9. 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

  10. For More Information: Robert Gehret, Deputy Director Policy Development & Research Division City of Boston Dept of Neighborhood Development 26 Court Street, 8th Floor Boston, MA 02131 Phone: 617-635-0242 E-mail: bgehret.dnd@cityofboston.gov

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