The GOAL program provides grants, federal tax credits and zero-interest federal loans to developers and project sponsors who build affordable rental housing for low- to moderate-income families and seniors. The program is open to for-profit corporations, nonprofit agencies and regional housing authorities. The following three programs fit under the GOAL umbrella.
Under HOME, funding is available to develop new affordable rental housing through new construction, rehabilitation or acquisition and rehabilitation. HOME funds are typically grant funds but may also be loaned to project sponsors.
This program provides federal tax incentives to for-profit or nonprofit organizations to develop affordable rental housing for low and very low-income households. Awards are made under a competitive process. Eligible activities include new construction, acquisition and rehabilitation projects.
The State of Alaska was awarded a statewide allocation of $24.6 million for neighborhood stabilization activities in Alaska. The NSP1 program provided funding to nonprofit organizations to eliminate blight and the presence of vacant, abandoned or foreclosed homes and properties. Vacant and/or foreclosed properties were purchased for redevelopment or resale in order to provide rental and homeownership opportunities for low-, median- and moderate-income families in Alaska. States were required to give priority emphasis to areas of greatest need, targeting areas with the greatest percentage of foreclosures. The NSP3 program provided funding for redevelopment in the Mountain View/Russian Jack final target area in Anchorage and will be used in a mixed financing approach by the Public Housing Division with the potential to develop up to 80 units of affordable housing for families.
Funding can be used to provide housing for Alaska's senior citizens so that they may remain in their home communities as they age. SCHDF distributed under the GOAL program can be used for acquisition, rehabilitation and new construction of senior housing. Grants are made to nonprofit organizations to bridge the gap between the cost of the project and funding from other sources.
Grant recipients must choose a definition of "senior citizens" as either age 55 and older or age 62 and older according to the federal definition of "housing for older persons" under Section 807 of 42 U.S.C. 3607 implemented at 24 CFR 100.300-308. Both choices carry with them requirements detailed in the application process.
The THHP Housing Grant Program funds the development of teacher, health professional and public safety housing. Funds are awarded competitively on annual basis for the rehabilitation, construction or acquisition of rural housing projects. Eligible entities include school districts, local governments, regional health corporations, housing authorities and nonprofits.