Real Estate Grants

Is it possible that real estate grants are available to help an enterprising company acquire property? The answer is “Yes, there are, in fact, grants that secure real estate.” Of course, as with all grants, there are requirements, stipulations, and eligibility rules that govern how these particular kinds of grants are secured.

The criteria to receive real estate grants are specific, yet far-ranging. Let’s begin with a basic: an individual may not be able to access the funds needed to secure real estate grants alone. What needs to be understood in regard to real estate grants is that while funding is available, those entities eligible include: state and local governments, non-profit organization, community development organizations or certain kinds of lending institutions. If, an individual remains interested in obtaining a real estate grant, then review the Catalog of Federal Domestic Assistance (CFDA) at www.cfda.gov or sign-up for daily e-mails from Grants.gov. The CFDA provides a comprehensive listing of all federal funding initiatives. Review the full announcement and determine eligibility. If eligible then complete the grant application in its entity…a daunting task, indeed! Grants.gov is the clearinghouse for all federally funded grants. Again: review, determine eligibility, and then complete the grant application completely!

If, an individual is determined to acquire a real estate grant, partner with a non-profit. These organizations can access funds that are not directly available to for-profit companies or individuals in revitalizing or rejuvenating neighborhoods. It is true, of course, that the federal government, particularly the Department of Housing and Urban Development (HUD), allow partnerships or a consortium of groups, including for profits to develop housing initiatives. HUD makes it very clear, however, that it does not provide grants to individuals to buy homes or acquire real estate. Therefore, many grants available through HUD will involve affordable or transitional housing initiatives. HUD has very specific rules and regulations that govern such granting request.

But, then, again the company seeking a real estate grant may, in fact, want to provide affordable and/or transitional housing to low-income families. Furthermore, the federal government along with many non-profits engage in urban revitalization projects that re-build blighted neighborhoods.

Some organizations preserve historic buildings. Older cities, especially, have numerous historic buildings and sites that not only need preservation, but need maintenance to be kept in pristine conditions. These real estate, or more specifically, historic preservation grants, are highly competitive, but do require that the building and/or site be recognized either at the state or federal level as “historic.” Each state has a criteria established to determine what constitutes “historic,” and generally there is an exhaustive amount of paperwork to be completed. Here, too, much research will be conducted to provide a compelling argument as to why the building or site should be considered “historic.” But the outcome can be quite rewarding, so it is often worth the time and energy expended!

Remember: the grant application is the important document submitted to a granting agency. Make the application Stand Out!

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