The summary for the Self-Help Homeownership Opportunity Program Federal Grant is detailed below.
It contains information such as the Catalog of Federal Domestic Assistance (CFDA) number, who is eligible for the grant, how much grant money will be awarded, important deadlines, and a sampling of similar government grants.
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Others (see text field entitled "Additional Information on Eligibility" for clarification)
Additional Information on Eligibility
Individuals and local non-profit organizations are not eligible to apply for funding under this competitive SHOP NOFA. Applicants must be a national or regional non-profit public or private organization (or a consortia) that has the capacity and experience to provide or facilitate self-help homeownership housing opportunities in at least two states. Applicants must have successfully completed at least 30 self-help housing units in a national or regional area within the 24-month period immediately preceding the publication of this SHOP NOFA.
SHOP funds are awarded to national and regional non-profit organizations and consortia to facilitate and encourage innovative homeownership opportunities on a national, geographically diverse basis through the provision of self-help homeownership housing programs. SHOP funds must be used for land acquisition, the installation or improvement of infrastructure, and for reasonable and necessary planning, administration and management costs. The average SHOP expenditure for the combined costs of land and infrastructure must not exceed $15,000 per dwelling unit. The construction costs of the dwellings must be funded with other leveraged public and private funds. SHOP homeowners must contribute a significant amount of sweat equity towards the purchase of their units. Donated volunteer labor is also required. Assisted units must be decent, safe, and sanitary non-luxury dwellings that comply with local building and safety codes and standards. These units must be sold to eligible low-income homebuyers at prices below the prevailing market price. The homebuyers sweat equity contribution must not be mortgaged or otherwise restricted upon future sale of the SHOP unit. SHOP grantees may award SHOP funds to affiliate organizations to carry out the grantees SHOP program. These affiliates must be located within the grantees service area.