Funding Announcement:
Virginia Housing Housing Counseling and Education Grant Credit Focus Area
August 2020
Funding Purpose:
REACH Virginia FUNDING OPPORTUNITY: Virginia Housing reinvests a portion of our net revenues into Virginia’s communities through REACH Virginia (Resources Enabling Affordable Community Housing in Virginia). This is a multifaceted resource that Virginia Housing uses to support vital housing initiatives through our Homeownership, Rental and Community Outreach programs.
The intent of Housing Counseling and Education (HCE) Credit Focus Grant is to improve the credit score and financial stability of clients receiving counseling and education services. Grant funds must supplement an agency’s housing counseling program, and not be the sole source of funding.
Eligibility Criteria:
- HUD Approved Local Housing Counseling Agencies, HUD Approved Participating Housing Counseling Agencies, HUD Approved Multi-State Organizations doing business in Virginia, or National intermediaries with Virginia branches are eligible to apply.
- Agency must be in good standing with both the Virginia Housing HUD Housing Counseling and Education Grant and the FY20 Virginia Housing Housing Counseling and Education Grant.
- Agency must be awarded an FY21 Virginia Housing Housing Counseling and Education Grant.
Program Parameters:
Approved agencies must comply with the Virginia Housing HCE Handbook and the HUD Housing Counseling Handbook.
Click on the attachments in the opportunity section of this funding opportunity to access the HCE handbook for a detailed explanation of the scope of services and requirements under this funding opportunity, disbursement and reporting requirements.
The period of performance for this funding opportunity is 12 months.
Application Process:
Agencies seeking funding should apply to Virginia Housing’s Notice of Funding Opportunity (NOFO) using Virginia Housing’s Grants Management System at https://vhdagrants.com. For questions concerning this program or assistance with application submission, contact contact Frank Curbeira, Strategic Housing Officer, at (804) 343-5818.
Application Requirements:
- Incentive and Control Group Goals
- Proposed Budget
- Agencies may request up to $35,000 in HCE Credit Improvement Focus Area funding.
- At least 75% of the total award must be used to pay incentives.
- Grant funds may be used for incentive payments, salary costs, and indirect costs only.
Approval:
Selected agencies will receive a Grant Award Notification (GAN) and an addendum to their Grant Agreement if approved for funds under the award. Agencies must return the signed addendum to Virginia Housing with signature by an authorized representative.
All applicants have the option to submit a request at Grants@virginiahousing.com for a debriefing within thirty (30) days of approval or denial.
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