As we already know, government grants are offered to people with purposes behind them. The main objective of every government grants offered is to help the low-income people to reach their goal. There are many types of government grant offered to help people recovering from various losses, while the other financial aid programs offered to help people increasing their economic condition. Apart from to help people recovering from loss and to fix the bad economic condition, there are government grants offered to help people to have what they have dreamed. Government grants for real estate investors are made to be available for people interested to provide affordable housing to low-income families. In the form of grants, these government grants for real estate investors are provided by the U.S Department of Housing and Urban Development.
Government Grants for Real Estate Investors to Support Housing
Here are examples of government grant for real estate investors to support housing for low-income communities:
Grants to Support Affordable Housing
Organizations that provide affordable housing for low-income communities are eligible for this funding. The mechanism of this funding is HUD as the distributor will distribute the funds to the local government, and then they will award the fund to the eligible organizations. In order to obtain this grant, the property owner needs to keep the rent affordable.
Emergency Capital Repair Program
This government grants for real estate investors help the property owners to obtain money for their property repair. Only the multifamily property owners who offer affordable rent to their tenants can obtain the fund. The awarded fund can be used to cover any repairs that affect the safety and health of tenants. For your information, this will only be awarded one time to each grantee.
Grant to Support Affordable Property with Green and Safe Energy Retrofit
The property owner to retrofit the property with safe energy and green improvements can use the awarded fund. Prior to award this financial aid, a survey will be conducted. Another condition to obtain this grant is the property owner needs to keep the rent affordable. The awarded fund needs to be spent within two years. HUD provides this financial aid program.
- Assisted Housing Stability and Energy and Green Retrofit. grants.gov/search/search.do?mode=VIEW&oppId=45922. Accessed on October 13, 2012
- Community Development. portal.hud.gov/hudportal/HUD?src=/program_offices/comm_planning/communitydevelopment. Accessed on October 13, 2012
- Emergency Capital Repair Program. hud.gov/offices/hsg/mfh/progdesc/ecrp.cfm. Accessed on October 13, 2012
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