The City of Memphis Division of Housing and Community Development (HCD) has announced the opening of the competitive grant program for the Memphis Affordable Housing Trust Fund (MAHTF).
Informational Sessions will be held at 2 p.m. on Tuesday, September 17 and Wednesday, October 16 at the Community Foundation of Greater Memphis, 1900 Union Avenue.
More information:
https://memphistn.gov/news/what_s_new/memphis_affordable_housing_trust_fund
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This fund will advance the Memphis 3.0 Comprehensive Plan to help provide affordable housing through grants and loans for new construction and rehab of multifamily homes, as well as minor home repair and rehabilitation of single family homes for those who qualify. One million dollars is available to be awarded.
Eligible developers, Community Development Corporations (CDCs), and Community Housing Development Organizations (CHDOs) focused on addressing the housing needs of households that earn up to 80 percent (80%) of Area Median Income (AMI) are invited to apply. Funds awarded during the current grant round must be used for Single-Family Rehab or Single-Family Home Repair. Private individuals, such as homeowners or interested residents, are NOT permitted to receive direct grants or loans from the MAHTF. Homeowners are encouraged to seek assistance through nonprofits when they are awarded MAHTF funds.
A complete application must be received via the online submission portal by Friday, November 8 by 3 p.m.
Funds awarded through MHTF create and preserve safe affordable housing for low-income households and families. Applicants may apply for $50-$200K to support rehab and repair projects.
ABOUT MEMPHIS AFFORDABLE HOUSING TRUST FUND:
The MAHTF was established by City of Memphis Government to address the affordable housing needs of households that earn up to 80 percent of the Area Median Income (AMI) - with the primary goals of increasing affordable housing, improving neighborhoods, and building nonprofit developer capacity. HCD administers the fund, which is housed at the Community Foundation of Greater Memphis. The fund is capitalized by annual recurring City funds and available for tax-deductible contributions from philanthropy and other government agencies. Mayor Jim Strickland has appointed an Advisory Board to advise HCD on setting annual priorities.
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