Development Grants

Program Summaries

Greater Opportunities for Affordable Living (GOAL)

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 four main programs fit under the GOAL umbrella are HOME, Low Income Housing Tax Credits, National Housing Trust Fund, and Senior Citizens Housing Development Fund.

HOME Investment Partnership Act

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.

Low Income Housing Tax Credit Program

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.

National Housing Trust Fund (NHTF)

The NHTF may be used for the production or preservation of affordable housing through the acquisition, new construction, and / or reconstruction of non-luxury housing with suitable amenities.

Senior Citizens Housing Development Fund (SCHDF)

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.

Rural Professional Housing Grant Program

The Rural Professional 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.