Tapping Into Other Funding Sources

A Presentation for NCDA’s 2013 Winter Conference

Washington, DCJanuary 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 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

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 DirectorPolicy Development & Research DivisionCity of Boston Dept of Neighborhood Development26 Court Street, 8th FloorBoston, MA 02131Phone: 617-635-0242E-mail: bgehret.dnd@cityofboston.gov