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Tuesday, November 27, 2007 - 7:30AM

The John D. and Catherine T. MacArthur Foundation announced recently that it plans to provide $35 million in new funding for innovative public sector initiatives to preserve and improve the existing stock of privately owned affordable rental housing. The foundation has invited state and local governments to submit letters of interest by January 29, 2008 after which a limited number of applicants may be invited to submit full proposals. The foundation says it expects to select up to 10 states and localities to receive awards including grants and/or program-related investments ranging from $250,000 to $5 million. Eligible expenditures may include collection of relevant housing data, market studies, personnel costs, reasonable compensation to third-party consultants, the provision of financing and other outlays that fulfill the charitable purpose of providing housing affordable to low-income families and/or stimulating community and economic development. Click here for more information.

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