Government Grants, Loans: Rural Housing Preservation Grants (Matching, Phasing)

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Rural Housing Preservation Grants

Rural Housing Preservation Grants

ASSISTANCE CONSIDERATIONS
	· Length and Time Phasing of Assistance
		Grants are made for a 12 month period. Agency consent is required for grants that exceed 1 year.
	· Formula and Matching Requirements
		See 7 CFR 1940-L, "Methodology and Formulas for Allocation of Loan and Grant Funds." This program has a statutory formula consisting of the following factors and weights: State's percentage of national rural population, 33 1/3 percent; State's percentage of national number of rural occupied substandard units, 33 1/3 percent; and State's percentage of national rural families with incomes below the poverty level, 33 1/3 percent. Data source for each factor is based on the latest census data available. The percentage for each factor is multiplied by the weight assigned and summed to arrive at a State factor. The State factor is multiplied by the total amount available for allocation nationally, minus the national office reserve (approximately 5 percent). This program has no cost-sharing arrangement or matching requirements although priorities under the project selection criteria include extent of leveraging of funds to complement the housing preservation grant.

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Rural Housing Preservation Grants

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Rural Housing Preservation Grants

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