WASHINGTON – RealEstateRama – The US Department of Housing and Urban Development (HUD) announced a Notice of Funding Opportunity (NOFO) of $2 million through the HOPE VI Main Street Program. This grant program provides assistance to communities looking to create affordable housing in central business districts (Main Street areas) that are undergoing redevelopment. HUD is looking to target Main Street areas in cities with this funding opportunity.
“HUD recognizes that cities are in need of revitalization across the country,” said HUD Secretary Marcia L. Fudge. “We want to support city governments in their efforts to restore economically crucial business districts by providing housing in these areas.”
The main program objectives are to:
- Redevelop 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 public housing units within its jurisdiction. The application deadline is on 10/12/2023. To learn more about the program and apply, visit here.
