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Find similar grantsDevelopment Gap Subsidy Grant Program is sponsored by Tennessee Housing Development Agency (THDA). Addresses the financial challenge when the cost of developing new homes exceeds their appraised value, promoting homeownership and stabilizing neighborhoods.
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Tennessee Housing Development Agency » Development Gap Subsidy - Tennessee Housing Development Agency THDA administers the Tennessee Housing Trust Fund (THTF) to promote the production, preservation, and rehabilitation of housing for low to moderate income households across Tennessee. The 2025 Affordable Housing Development Gap Subsidy Program will be funded with a total of $3,000,000 from the THTF.
The program addresses the financial challenge that arises when the cost of developing new homes exceeds their appraised value, a common barrier in economically distressed communities. By bridging this development gap, the program aims to promote homeownership, stabilize neighborhoods, and gradually improve property appraisal values.
2025 Development Gap Subsidy Program Description The Development Gap Subsidy Grant Program is available to qualifying non-profit developer organizations that plan to build in specific hard to develop areas of the state where there is a documented gap in the cost to develop affordable housing and the appraised value of new construction housing in those areas.
Qualification will be based on the non-profit developers plans for new construction of affordable housing to low and moderate income (up to 120% of the AMI for the area where the home will be developed) homebuyers in hard to develop areas, and the demonstrated need for Development Gap Subsidy in specific targeted areas of the state.
Approved non-profit developers will be issued a Reservation of Funds Letter (Reservation) for up to $700,000. Once a Non-Profit Developer, and the targeted development area have been approved, funds will be provided on a house-by-house basis at a maximum subsidy of $70,000 (Seventy Thousand) per house for development of no more than 10 (Ten) units of single-family housing.
In addition, THDA will provide funding equal to 3 (Three) to 6 (Six) percent of the final sales price to fund a seller credit to the purchase to reduce the final liability of the low- to moderate income homebuyer to the appraised value of the home, less all other fees and closing costs. Funding will be provided based on an organization meeting all qualification requirements and submission of a qualified proposal.
Successful applicants will be notified on a rolling basis in the order proposals are received and qualified. For successful proposals a Reservation of Funds with a 24-month term, commencing no earlier than November 1, 2025 and ending no later than October 31, 2027 will be issued to the proposing organization(s). THDA will stop accepting applications when all funding has been committed.
The application period for the 2025 Affordable Housing Development Gap Program is now closed. 2025 GAP Funding Recommendation Awardees 2025 Development Gap Grantee Workshop
According to the current listing, eligibility includes: Qualifying non-profit developer organizations. Confirm the full requirements in the official notice before applying.
The current listing shows up to $3,000,000. Verify award ceilings, matching requirements, and allowable costs in the official notice.
Development Gap Subsidy Grant Program is funded by Tennessee Housing Development Agency (THDA). Verify program details on the funder's official page before applying.
Start from the official opportunity page linked in this listing — it carries the sponsor's submission instructions.
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