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Applications accepted on a rolling/continuous basis; must be submitted at least 70 days before anticipated response required.
Affordable Housing Performance Grant Program is sponsored by Economic Development Authority of the City of Richmond, Virginia (EDA). This program incentives the development of safe and affordable multi-family housing in Richmond by providing annual grants to offset a development's incremental real estate tax burden. The program aims to combat the affordable housing shortage and further economic development.
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Richmond Affordable Housing Performance Grants Rendering of 7000 Carnation A collaborative partnership between the City and the EDA, the Affordable Housing Performance Grant Program incentives the development of safe and affordable multi-family housing in Richmond.
The Economic Development Authority of the City of Richmond, Virginia (EDA) offers Affordable Housing Performance Grants in collaboration with the City of Richmond to further the development of affordable housing on a continuous basis throughout the year.
The program is designed to induce the private development of new, affordable multifamily units by providing annual grants to offset a development’s incremental real estate tax burden for an initial 15-year period, with the potential for an additional 15 years of benefit. Performance grant applications will be accepted, reviewed, and evaluated by the EDA and the City’s Department of Housing and Community Development (HCD) staff.
Based on the evaluation, staff recommendations are provided to the EDA Board of Directors and Richmond City Council for consideration and formal approval through their respective legislative processes. The outcome of the evaluation and approval process is not guaranteed.
To combat the affordable housing shortage, to further economic development, and specifically to incentivize the development of affordable housing across the Commonwealth, the General Assembly passed HB 1194 during the 2022 Session, and it became effective on July 1, 2022. HB1194 amended Ch. 49, Title 15.
2 of the Code of Virginia, known as the “Industrial Development and Revenue Bond Act,” to allow local Economic Development Authorities, in conjunction with their local governing bodies, the power to make grants associated with the construction of affordable housing.
In response to the housing crisis declared by Mayor Stoney and the City Council through Resolution No. 2023-R019 adopted on April 10, 2023, the EDA and HCD worked collaboratively to create the Affordable Housing Performance Grant Program to incentivize the development of safe and affordable rental housing in the City.
Please download, read, and carefully review all information contained in this Application Packet , including the associated attachments, before completing the application. Applications must be submitted at least 70 days before an anticipated response is required. Incomplete applications will not be evaluated or considered for decisions until all required information have been provided.
Download the Application Package Interested in growing your business in Richmond, Virginia? Reach out to Richmond Economic Development. BUSINESS INVESTMENT & JOB CREATION
Scoring criteria used to review proposals for this grant.
According to the current listing, eligibility includes: Private developers of new affordable multifamily housing in the City of Richmond, Virginia. Confirm the full requirements in the official notice before applying.
Affordable Housing Performance Grant Program is funded by Economic Development Authority of the City of Richmond, Virginia (EDA). Verify program details on the funder's official page before applying.
This opportunity targets applicants in Virginia. If your organization operates elsewhere, check the official notice for location requirements.
Applications go through the funder's official portal — the Apply Now link on this page goes there directly.
Lowe's Hometowns Grant Program is sponsored by Lowe's. This program aims to restore and revitalize community spaces across the country through physical renovations. Consumers can nominate a community space in their hometown, such as a neighborhood garden, park, or community center. While broad, it can apply to infrastructure improvements within a community context.
CFNF Helping Today, Shaping Tomorrow Grant is a grant from the Community Foundation of North Florida that funds nonprofits addressing pressing challenges with programs and services of lasting impact in Florida's Big Bend region. Each year, CFNF awards ten grants of $5,000 each to eligible organizations. A separate Arts Nonprofit Grant Cycle awards five grants of $6,000 each for arts organizations in the same region. Eligible applicants must be 501(c)(3) organizations serving one or more of eleven counties including Leon, Gadsden, Jefferson, and Wakulla, with at least two years of operating history in the region. Applications for the Helping Today, Shaping Tomorrow cycle close September 30.
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