Yesterday, the U.S Department of Housing and Urban Development (HUD) announced a Notice of Funding Opportunity (NOFO) of $1 million through the HOPE VI Main Street Program. This grant program provides assistance to smaller communities in the development of affordable housing that is undertaken in connection with a Main Street revitalization effort.
“The beauty of this program is its flexibility,” said HUD Secretary Marcia L. Fudge. “Past grants have been given to rural communities with a population of 300 to our more heavily populated urban suburbs. HUD recognizes that there is a need for revitalization across the country. The Main Street program supports communities of all sizes and allows the funding to fit the project”.
The main program objectives are to:
- Redevelop central business districts (Main Street areas)
- Preserve historic or traditional Main Street area properties by replacing unused commercial space in buildings with affordable housing units
- Enhance economic development efforts in Main Street areas
- Provide affordable housing in Main Street areas
Eligible applicants are limited to Units of General Local Governments with a population of 50,000 or less and 100 or fewer physical housing units within its jurisdiction and who have an existing Main Street rejuvenation project already in progress. The application deadline is on 01/31/2023. To learn more about the program and apply, visit here.
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