Tennessee Housing Grants

The THDA Challenge Grant Program provides initial seed funding to support the private fundraising efforts of nonprofit organizations across Tennessee to implement housing and related activities that represent unique milestones, are part of a broad community initiative, or are part of a significant expansion of work outside the normal day-to-day activities of the organization. Selected proposals must generate cash leverage of at least 300% within nine months of THDA’s commitment of Challenge Grant resources to the housing initiative.

Provides gap funding to eligible nonprofit entities to help cover the costs to build new construction or substantially rehabilitate homes in distressed communities where property values still have not recovered. The Appraisal Gap Pilot Program (“Gap Program”) is a pilot program designed to provide a subsidy to eligible nonprofit entities, based on the difference or gap between the costs to build new homes or to substantially rehabilitate homes and the appraised value of the home that the nonprofit will sell to an eligible buyer. The Gap Program Subsidy may not fill the entire gap. The Gap Program’s goal is to expand the availability of affordable housing in areas of the state where property values have not fully recovered from the mortgage crisis.