🏡Funding Opportunity for Housing Preservation Grants Announced
Notice of Funding Opportunity for the Section 533 Housing Preservation Grant (HPG) for Fiscal Year 2025
Summary
The Rural Housing Service (RHS or the Agency), a Rural Development (RD) mission area agency of the United States Department of Agriculture (USDA), announces the availability of $13.1 million in funding for the Housing Preservation Grant (HPG) program for fiscal year (FY) 2025, which includes approximately $2.1 million that will be made available for disaster assistance and $500,000 each for recovery due to Hurricanes Fiona in Puerto Rico, and Helene in Tennessee. The funds are available for qualified entities (such as public agencies, private non-profit organizations, and federally recognized Tribes) to provide grants or low-interest loans to eligible recipients to repair or rehabilitate housing in rural areas. Rental and cooperative properties that house very-low and low-income tenants may also be provided with grants or low-interest loans to repair and rehabilitate their properties in rural areas. In accordance with 7 CFR 1944.662(c), when an "identity of interest" (as such term is defined by 7 CFR 1924.4(i)) exists between a nonprofit entity and the owner(s) of a dwelling, the property is not eligible for HPG assistance. Therefore, the HPG grantee may meet the factors provided at 7 CFR 1924.4(i), which includes a requirement that the HPG grantee not be the owner of the home, rental property or cooperative in which repairs will be performed. This notice announces the opening and closing dates for receipt of preapplications for HPG funds, including the availability of calendar year 2022 disaster assistance, from eligible applicants, as well as submission requirements. Expenses incurred in developing preapplications will be at the applicant's cost. Applicants will not be reimbursed for any costs incurred outside of the grant agreement period.
Agencies
- Agriculture Department
- Rural Housing Service
Business Impact
$$$ - High
The document outlines a funding opportunity for the Housing Preservation Grant (HPG) program, providing $13.1 million for businesses, nonprofits, and government entities to facilitate housing repairs in rural areas. This financial assistance directly impacts eligible organizations seeking funding for housing projects.