The City of Vancouver is offering a grant for Housing Acquisition, Construction and Rehabilitation Projects, aiming to increase and preserve affordable housing opportunities. This initiative aligns with a mission to support households with low-income and individuals experiencing homelessness. The grant focuses on funding projects related to the acquisition, construction, or rehabilitation of rental or homeowner housing, as well as homebuyer assistance programs.
The target beneficiaries of this grant are households earning less than 60% of the Area Median Income (AMI) for rental housing and less than 80% AMI for homeowner housing, as well as people experiencing homelessness. Public service programs funded through CDBG must serve people earning 50% or less of AMI, while CDBG funds for other purposes target those earning 80% or less of AMI. The impact goal is to create and maintain affordable housing within the city limits of Vancouver, addressing the critical need for accessible housing options for vulnerable populations.
The program prioritizes housing projects that focus on acquisition, construction, and rehabilitation. For these projects, the maximum request is $400,000, with a minimum of $250,000. Homebuyer assistance programs are also a focus, with a maximum request of $250,000 and a minimum of $100,000. Eligible project costs are broad, covering everything from appraisals and architectural fees to construction, financing, and project management. The grant duration is two years, with HOME funds generally available from July 2025 through December 2026.
Expected outcomes include an increase in the availability of affordable rental and homeowner units, as well as enhanced homeownership opportunities for low-income households. Measurable results will be tied to the number of units acquired, constructed, or rehabilitated, and the number of households assisted through homebuyer programs, all serving specific income brackets as defined by HUD. The grant's strategic priorities are to combat homelessness and housing insecurity by investing in tangible housing solutions. The underlying theory of change is that by providing financial assistance for various stages of housing development and support, the City of Vancouver can directly contribute to a more equitable and accessible housing market for its most vulnerable residents.
