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Frequently Asked Questions
We understand that affordability varies based on multiple factors, including geography and market conditions. We’re looking for innovations that address the needs of low- to moderate-income households, and will prioritize proposals serving 60 percent of area median income (AMI) and below. At the same time, we will exercise flexibility up to 80% AMI based on the nature of the idea (e.g., rental vs. homeownership) and market context. We also will consider mixed-income strategies in which its estimated that the innovation will serve a majority of households at or below 60 percent AMI.
Organizations can submit more than one application. However, only one application per idea will be allowed. In other words, organizations can submit multiple unique ideas to the same focus area. Organizations may also submit multiple unique ideas across different focus areas. However, we will not accept applications from different organizations for the same idea. Organizations must coordinate with their partners to determine one lead applicant. Finally, although organizations are permitted to submit more than one application, we strongly encourage you to prioritize your best ideas and submit one application.
No. You must select one primary focus area that best aligns with your innovation. The application does allow you to specify if your innovation overlaps with another focus area. However, there is no advantage or preference given to innovations that address more than one focus area.
The grant funding is flexible and can be used for operational, programmatic and capital expenses.
Yes. Innovations can be related to both rental housing or homeownership.
The challenge is a national competition. Our goal is that the final six grantees will represent a geographically diverse cohort of innovations. Although we are not seeking to provide grants in specific locations, ideas designed to serve rural and/or tribal communities will receive a modest boost in our scoring criteria. Learn more about the challenge’s scoring criteria.