Self-Help Homeownership Opportunity Program (SHOP)
Closed Posted
- Opportunity number
- FR-6800-N-19
- Applications due
- Award size
- $1,145,000 to $12,000,000
Opportunity facts
- Assistance listings
- Funding instrument
- Grant
- Category
-
- Housing
- Eligible applicants
-
- Other
- 501(c)(3) Nonprofits
- Full announcement
Opportunity details come from Grants.gov. Updated .
About this opportunity
The U.S. Department of Housing and Urban Development (HUD) is offering $12 million in FY 2024 funding through the Self-Help Homeownership Opportunity Program (SHOP) to facilitate and encourage innovative homeownership opportunities on a national, geographically diverse basis. Eligible applicants are national and regional non-profit organizations and consortia proposing to use a significant amount of funds in at least two states. SHOP grant funds must be used for land acquisition, infrastructure improvements, and reasonable planning and administration costs (not to exceed 10%). The construction or rehabilitation costs of each SHOP unit must be funded with other leveraged public and private funds. SHOP units must be decent, safe, and sanitary non-luxury dwellings sold to low-income homebuyers at prices below the prevailing market price. Homebuyers must contribute a significant amount of sweat equity, and volunteer labor is required.
The average SHOP grant expenditure for land acquisition and infrastructure improvements must not exceed $25,000 per unit. HUD expects to make approximately 7 awards under this funding opportunity. The deadline to apply is December 17, 2024. Federal SHOP grants have typically ranged from $500,000 to $15 million, with project periods of 3-4 years. Funded activities occur across multiple states, with grantees often sub-awarding funds to local affiliate organizations within their service areas.
Synopsis
This SHOP NOFO announces the availability of $12,000,000 in FY 2024 SHOP Grant funds to be awarded to national and regional non-profit organizations and consortia to facilitate and encourage innovative homeownership opportunities on a national, geographically diverse basis through the provision of self-help homeownership housing programs. Applicants must propose to use a significant amount of SHOP Grant funds in at least two states. Individuals are not eligible to apply for SHOP Grant funds.SHOP Grant funds must be used for land acquisition, infrastructure improvements, and for reasonable and necessary planning and administration costs (not to exceed 10 percent). The construction or rehabilitation costs of each SHOP unit must be funded with other leveraged public and private funds. The average SHOP Grant expenditure for the combined costs of land acquisition and infrastructure improvements must not exceed $25,000 per SHOP unit.SHOP units must be decent, safe, and sanitary non-luxury dwellings that comply with state and local codes, ordinances, and zoning requirements. The SHOP units must be sold to homebuyers at prices below the prevailing market price.Homebuyers must be low-income and must contribute a significant amount of sweat equity towards the development of the SHOP units. A homebuyer's sweat equity contribution must not be mortgaged or otherwise restricted upon future sale of the SHOP unit. Volunteer labor is also requiredSHOP Grantees may award SHOP Grant funds to local non-profit affiliate organizations to carry out the Grantee's SHOP program. These affiliate organizations must be located within the Grantee's service area.
Files
| File | Type | Posted |
|---|---|---|
| Foa_Content_of_FR-6800-N-19.pdf |
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