American Rescue Plan Act (ARPA) Round 12 allocations are as follows:

• Grant 1: Homesharing (Shared Housing) Improvements for Older Adults ($1,200,000):
  • Funding for homeowners to make repairs and/or improvements to their homes to create additional living space, including developing an attached accessory dwelling unit (ADU). The funding for improvements and repairs would be available to homeowners aged 62+ at 80% of AMI for three purposes: 
    • 1) to enable a space of the home to be rented through the Home Sharing Program;
    • 2) to create a safe space for on-site care; and/or
    • 3) to accommodate for multigenerational housing.
  • Residents served must be 62+ and be homeowners earning at or below 80% of the AMI, cannot be delinquent on property taxes and mortgage payments (if applicable) unless they are participating in an assistance program, and must have an active homeowners insurance policy. 
  • Unless otherwise prohibited by local, state, or Federal law, these programs will be open to all at-risk older adults (defined above) regardless of immigration status.
  • An investment per unit can be up to 25% of the value of the improved home (per Metro tax assessment), not to exceed $70,000.
  • Applicant must have demonstrated experience serving older adults.
  • Maximum Development Fee allowed is 20%. Higher points may be earned by projects where the Developer Fee is 10% or less.
• Grant 2: Cooperative Housing for Families ($7,000,000):
  • Intended to fund the creation or conversion of existing rental housing to cooperative housing units for families at or below 50% AMI in a mixed-income environment.
  • Program will prioritize at-risk families that are facing or experiencing a housing crisis.
  • Competitive proposals will reflect a deep understanding of how to support the launch of a cooperative housing model for families at or below 50% AMI and how to prioritize at-risk families.
  • Units must remain affordable for a minimum of 30 years.
  • Create strong partnerships for this program as strong, sustainable delivery involves intimate knowledge of best practices for all aspects of the cooperative model. 
  • Build a local system of expertise that can replicate this model beyond this current funding round.
• Grant 3: Shared Equity ($9,504,856): 
  • Create or preserve housing for shared equity homeownership for populations with incomes at or below 80% AMI with historical and demonstrated inequities in homeownership.
  • Homes must remain affordable for a minimum of 30 years.
  • Homebuyer income limits for participation in this grant are capped at 80% AMI.
  • Program must target populations with historical barriers and demonstrated inequities in homeownership as evidence by objective data, such as data available under the Home Mortgage Disclosure Act or other valid, reliable sources.
  • Proposals should clearly demonstrate how the program will be structured and how buyers will be educated about shared equity homeownership pre- and post-purchase.
  • Applicants are encouraged to have strong land control for the proposed development prior to applying.
  • Developer Fee must be below 20% of the total project budget request from Barnes.