Home Depot Offers Repair Funding for
Permanent & Transitional Housing
The Home Depot Foundation’s (THDF) Veteran Housing Grants Program awards grants to nonprofit organizations for the development and repair of veterans housing.
To date, the Foundation has awarded more than $80 million, and has helped impact more than 17,000 units of housing for veterans. Awards typically range from $100,000 to $500,000.
Veteran Housing Grants are best suited to fund single family home repairs when they are a part of a permanent program managed by the nonprofit partner.
Eligible Projects include:
- New construction, rehab or repair, single family or multifamily, permanent supportive housing or transitional housing.
- Grants are awarded solely for the physical construction or repair of housing for veterans (hard costs). THDF does not provide funding for soft costs, such as furnishings, rental subsidies, tenant services, etc.
- Target population of veterans, at or below 80% AMI.
- Projects in which at least 20% of the units are reserved for veterans.
- All veterans served are honorably discharged.
- Project will commence within the next twelve months.
- THDF grant funding must comprise less than 50% of the total development cost of the project.
- 75% of the project’s funding sources have been identified at the time of proposal submission.
- The amount of funding requested does not exceed $25,000 per veteran unit.
- For multifamily rental projects, proposals requesting above $100,000 must provide evidence of a third party binding agreement that ensures the units are
- a.) reserved for veterans;
- b.) occupied by veterans for a minimum of 15 years for rental or 3 years for homeownership ( i.e. project-based HUDVASH, other funder requirement, deed restriction, zoning requirement, etc.).
Eligible Applicants include:
- Grants are only awarded to 501(c)3 nonprofit organizations that have been in good standing with the Internal Revenue Service for at least 5 years.
- Organizations with a current operating budget of at least $300,000 and audited financial statements from the past three years.
- Organizations with previous experience developing, and either currently manage or own, veteran specific housing.
- For rental projects, nonprofit must have a 15+ year ownership stake in the development.
The application deadline is Tuesday, October 27, 2015.
Click here for more details including preferred project criteria, information about the application process, a questionnaire and grant proposal.