7057 - Community Impact Stabilization & Deconstruction FY27
Funding Opportunity Details

02 Community Impact Support

Final Application Deadline: Oct 31, 2026 11:59 PM

Description

• Notice of Funding Opportunity:

  Community Impact Grant - Stabilization and Deconstruction

  July 2026

   

  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 the Stabilization and Deconstruction Grant is to support vacant and deteriorated properties whose poor condition creates a notion of physical and economic blight in the surrounding area, and often is a deterrent to surrounding development. Awards will be granted on a first-come, first-served basis.  Grantees must maintain ownership of the property during the period of performance.  The proposed budget may not exceed $150,000.

   

  Eligibility Guidelines

  To be eligible for funds under the Stabilization and Deconstruction Community Impact Grant, organizations must be a non-profit organization or local government and:

  1. Be physically located in Virginia.
  2. Have at minimum three (3) years of operations.
  3. Carry out at least one of the following housing-related focuses:
  • Creating economically integrated and inclusive housing opportunities including housing options for people with disabilities.
  • Planning and Community Development to include significant attention to housing planning.
  • Align with Virginia Housing’s mission of Helping Virginians Attain Quality, Affordable Housing and align with Virginia Housing's Strategic Direction.

  Requests for funds under the Stabilization and Deconstruction Community Impact Grant must fall within one of the following project types. Virginia Housing reserves the right to reject funding requested for any applications that are outside the focus areas listed below:

   

  Stabilization Grant

  Requests for funds under the Stabilization Community Impact Grant must be for interim repairs to vacant blighted properties intended for residential or mixed use that are located in a revitalization area.

   

  Program Parameters

  • Approved agencies must comply with the Virginia Housing Community Impact Grant Handbook. Click the document below for a detailed explanation of the scope, disbursement, and reporting requirements.
  • The budget and period of performance for this grant is twenty-four (24) months from grant award.

   

  Deconstruction Grant

  Requests for funds under the Deconstruction Community Impact Grant must be to dismantle buildings in a revitalization area in order to develop affordable housing with the goal of maximizing the reuse potential of the building's components.

   

  Program Parameters

  • Approved agencies must comply with the Virginia Housing Community Impact Grant Handbook. Click the document below for a detailed explanation of the scope, disbursement, and reporting requirements.
  • Redevelopment plans must indicate that majority of the property will be used for residential units.
  • The budget and period of performance for this grant is six (6) months from grant award.  Deconstruction must be initiated within the first ninety (90) days of the award.

   

  Application Process

   

  All potential applicants are strongly encouraged to meet with Matthew Bolster, Strategic Housing Office, at (804) 343-5631 or Matthew.Bolster@VirginiaHousing.com prior to completing the application.  All applications must be submitted electronically using the Virginia Housing Grants Management System.

  The following must be attached to the application:

  • Three qualified bids for stabilization activities
  • Designation of revitalization area
  • Building exterior and interior photographs
  • Certificate of Appropriateness by Historic Preservation Board (if applicable)
  • Structural Assessment
  • Tax Assessment
  • Redevelopment Plan
  • Additional sources of financial support, including the applicant’s financial contribution
  • Nonprofit Determination or proof of eligibility if the applicant is not a unit of local government
  • Prior year’s audited financial statements, or prior year’s reviewed financial statements or two (2) years of financial statements
  • Contractor documents - Evidence of Licensure and general liability insurance

   

  Decision Process

   

  Funds will be awarded based on an assessment of the organization’s application and the availability of Virginia Housing funds.  The selected organization will receive a Grant Award Notification (GAN) and a Grant Agreement if approved for funds under the award.

   

  All applicants have the option to submit a request at Grants@VirginiaHousing.com for a debriefing within thirty (30) days of approval or denial.