Wednesday, December 9, 2015
Competition Seeks the Best Low Income Housing Ideas
The state of Massachusetts is facing a housing crises to find affordable housing for low-income and homeless residents. So, a group called The Home Funders (HF) is holding a contest to foster new ideas to increase the supply of affordable housing to extremely low-income families. Three prizes up to $25,000 will be awarded to the best proposals.
Anyone can enter the contest, including teams, organizations, nonprofits, housing producers, municipalities and others. Proposals must outline plans for innovative, sustainable solutions to build affordable housing for extremely low income families. The deadline to submit proposals in February 5, 2016.
An innovative way to find a solution to affordable housing
The contest is reaching out to the community to help solve a housing problem that has plagued the state since the 1980s. To keep up with the demand for affordable housing, the state needs to build 17,000 homes per year. The housing situation is considered critical since there are now 4,550 families living in shelters and hotel rooms because they do not have a place to live. In total, Massachusetts has 79,000 low income families who are at risk for homelessness.
Home Funders, whose business is making low-interest loans and grants to build very affordable housing, will award prizes of $10,000 to $25,000 each to up to three organizations or teams that propose well-designed, innovative, workable and sustainable solutions to build, preserve or create affordable housing ideas for extremely low income (ELI) families.
To submit your ideas, visit www.homefunders.org/innovationcompetition.html