Capital Impact Partners is providing project grants to support Housing Equity Accelerator Fellows in advancing affordable housing projects, including workforce housing in the region. The program intends to accelerate the capacity of growing BIPOC developers committed to building affordable housing options across the greater Washington DC metropolitan area.
Affordability definitions:
a. Affordable is up to 80% AMI
b. Workforce is up to 120% AMI
The geography of focus consists of the District of Columbia, Montgomery County, Prince George's County, and the Northern Virginia region.
We plan to disburse up to $300,000 per entity. Awards will be determined by the size of the request, project eligibility, and application strength.
Key Information
Applications close - Tuesday, September 16, 2025, at 11:59 PM
Submission & Selection period - Applications will be received by the 3rd Wednesday of each month and selections will be ongoing monthly through the application closing date. Four (4) applications will be accepted per month. Submissions will be prioritized according to the date and time received. Requests received after the cutoff period will be deferred to the following month unless otherwise noted.
Reporting period - a reporting schedule will be provided upon execution of the grant agreement. Grant reports will be required at least quarterly and are expected to be submitted on time.
Mandatory reporting check-in - Date and time TBD
Applicant Eligibility
Eligible applicants are businesses and nonprofit organizations led by Housing Equity Accelerator Fellows or partnerships including at least one HEAF Fellow.
The individual completing the application must be a HEAF Fellow in the 2024 cohort.
Project Eligibility
Eligible projects are mixed-use, multifamily, rental, and for sale. Projects should consist of 8 to 10 (preferably) units at minimum to be considered.
Bundled single-family home projects will be considered so long that they are in proximity to one another and the cumulative unit count is at or above 8 units, preferably 10.
Beyond 10 ≥ or more housing units, there is no required minimum or maximum project type, size, or commercial square footage to be considered for funding.
Eligible Grant Uses
Applicants may apply for funding as a reimbursement of expenses or to fund new or future anticipated expenses, so long as the use of funds is allowable and logical. Eligible costs may be reimbursed so long as they were made on or after December 6, 2023.
Grant funds may be used for the following:
- Architectural & engineering expenses
- Interest reserves
- Earnest money
- Legal fees, title, and recording
- Permitting fees
- Survey & site planning and/or control fees
- Market/feasibility studies
- Appraisal
- Environmental reports, property conditions assessment
- Consultant fees for managing financing, project development, local & state approvals, etc. Consultants must be outside entities (not the developer)
- Other fees and costs may be permitted on a case by case basis upon review by Capital Impact. Please contact Melissa Stallings in these instances. Please note that potentially adding a new allowable use can take up to 30 - 45 days or so.
Contact Information
Please contact Melissa Stallings (mstallings@capitalimpact.org), with questions about the application process.
Support@submittable.com can help with application software issues.
Please complete the following application by June 12, 2025 (12:00am EDT) to be considered for a one (1) year grant of up to $50,000 from Capital Impact Partners and National Cooperative Bank. The grant will fund organizations and businesses that are using the cooperative model to foster economic opportunity and address issues facing their community. The grant funding should be used to amplify innovative models that can be replicated locally, regionally, or nationally. Priority will be given to co-ops where the majority of members of the community served are living with low incomes. The award is intended to support early-stage projects and provide catalytic capital that will attract other funders. Funding will be awarded for specific projects and not for general operating funds for the organization. Eligible organizations selected from respondents will be invited to final documentation by July 31, 2025.
The uses of funding include, but are not limited to:
- Financial projections
- Project scope and design
- Feasibility analysis
- Operational and staff costs
- Training development
- Leadership and professional development
- Tools and technologies
- Outreach and marketing
- Contractors or consultants
The top applicants will be asked to provide additional documentation to the review committee within 21 days of notification including:
- W-9 dated within the last 12 months
- Articles of Incorporation, Articles of Organization, or similar formation documentation appropriate to entity type
- Bylaws, Operating Agreement, or similar governing documentation appropriate to entity type
- 501(c)(3) Determination Letter (if applicable)
- Most recent financial statement (audited if available)
- List of current funders
For more information, you are invited to attend one of the following webinars:
May 28, 2025 2:00-3:00 PM EDT Register in advance for this webinar:
https://momentuscap-org.zoom.us/webinar/register/WN_J0j1dfRXSWqTXesGuQAyQA
June 4, 2025 1:00-2:00 PM EDT Register in advance for this webinar:
https://momentuscap-org.zoom.us/webinar/register/WN_is3xUWSQSjSfyg-_xk4m_Q
Further inquiries may be directed to apowers@capitalimpact.org.
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