Up to 20 percent of the trust fund may be used for competitive grants to help reduce homelessness. These grants may be used to provide temporary rental assistance, not to exceed one year; housing stabilization services in supportive housing for homeless persons; and predevelopment assistance to support long-term housing opportunities for the homeless. These activities are to be structured to reduce homelessness. The maximum amount for this type of Housing Trust Fund grant is $100,000.
Eligible applicants include local governments, local housing and redevelopment authorities, regional or statewide organizations providing housing/homeless assistance or services to Virginia citizens and hold companies created for owning and operating affordable housing. Eligible organizations may contract with other parties to assist in providing the housing or other resources required to satisfy the condition of the grant or loan product.
- Virginia Department of Housing and Community Development announces more than $920,000 in Virginia Housing Trust Fund grants