Housing Grants Available via REIT Way Hawaii
In connection with its Community Giving Initiative, the Nareit Foundation’s REIT Way Hawaii announced Tuesday, Aug. 13, 2019, the availability of grants to support affordable housing projects for the remainder of 2019 and 2020.
Over the past year, the REIT Way Hawaii Community Giving Initiative donated a total of $450,000 to four nonprofit organizations that are providing affordable housing to Hawai‘i residents, according to a Nareit Foundation press release. The four organizations and the projects supported are the aio Foundation for Kahauiki Village, Dynamic Community Solutions for Pu‘uhonua O Wai‘anae, Housing & Land Enterprise for Na Hale O Maui in Lahaina, and the Affordable Housing and Economic Development Foundation for Nani O Puna in Pāhoa on Hawai‘i Island.
“REITs in Hawai‘i are committed to supporting affordable housing and, through the Nareit Foundation, provided the funding needed to support these four wonderful community organizations that are now helping residents to have a home of their own,” said Steven Wechsler, Nareit president and CEO. “We have additional grant funding in place to support more affordable housing projects and are looking forward to connecting with groups to see how REIT Way Hawaii can help residents in communities statewide.”
Organizations that wish to be considered for grants should be implementing projects that provide affordable housing for sale or rent. Grant funds are not intended for planning and will only go to organizations with “shovel-ready” projects, or to make land purchases for such projects.
Applications will not be reviewed unless they are on this form and align with the above-described initiative. Applications will be accepted continuously throughout the year. Awards will be announced periodically. All applications deemed complete will receive a response in writing that the submission has been received and is under review.
Applications with funding requests for shovel-ready projects will be considered first. Other affordable housing projects will be ranked according to the time required to make them shovel-ready. Funds, if awarded, will be transmitted by The REIT Way Hawaii Community Giving Initiative through the Nareit Foundation after the notification of award.
To be considered for a grant, organizations must be tax-exempt under section 501(c)(3) of the Internal Revenue Code and not classified as a private foundation. The mission of the organization must be to serve our local community.
Organizations that deny service to a potential client or beneficiary on the basis of race, religion, color, sex, sexual orientation, age, national origin, ancestry, citizenship, veteran or disability status will not be considered. Political, labor, fraternal organizations, civic clubs and religious organizations—such as churches and synagogues—are not eligible. However, secular community service programs are eligible, even if sponsored by religious groups.
The Nareit Foundation will require all grantees to provide a written stewardship report describing how the funds were used and their impact.
Inquiries and questions can be emailed to [email protected].