Momentus Capital, through Capital Impact Partners, is excited to announce that the application is now open for the Austin Equitable Development Initiative Learning Series through April 25th, 2025. We plan to accept 15 participants. The Austin Equitable Development Initiative is structured as a platform to train, boost the capacity of emerging developers to deliver real estate development projects in underserved communities. 

The program focuses on the current real estate development environment in Austin, Texas, and provides opportunities to developers through a 9-month learning series.

Key Documents

• Frequently Asked Questions

Key Dates

• Application is open Monday, March 24th - Friday, April 25th, 2025
• Interviews for semi-finalists will be held in between Tuesday, May 13th - Tuesday, May 27th, 2025.
• Notification of acceptance will be expected by Thursday, June 5th.
• Program onboarding will occur virtually on Friday, July 11th, 2025.
• The training schedule will be held Tuesday, July 29th, 2025 through Wednesday, April 7th, 2026. Training dates are subject to change.
• Training will be in-person for the learning series, incorporating events/network-building opportunities.

Eligibility
    Successful candidates for the program will be selected based on the following criteria:

• Alignment with the program’s mission to support the development of thriving communities. Candidates should demonstrate how their work reflects the values of community development, investment, and impact.
• Demonstrated commitment to community development and neighborhood revitalization in  the Austin Full Purpose Jurisdiction (visit map here) through work on active real estate development project(s).
• Actively working to further a career in real estate development. This is not an introductory program, and candidates are expected to have tangible experience.
• Be a resident of the Austin Metro Area which includes the counties of Bastrop, Caldwell, Hays, Travis, and Williamson.
• Able to meet the time and attendance requirements of the program. Participants should be prepared to attend bi-weekly training sessions (5 hours each) and commit an average of 2-4 hours per week of additional program work (attending office hours, completing the final program project) for the duration of the 9-month cohort period. 
• Open to peer sharing and learning in a cohort-based environment.
• Interested in responding to requests for proposals for real estate development opportunities with or without a development partner in the next 4-6 months.

Program Background

Headquartered in the Washington, D.C. metro area, and with a local office in Austin, Texas, Capital Impact Partners has supported communities for over 40 years through capital investments, programs, policy work, and partnerships. As a community development financial institution that invests in community, multifamily, and mixed-use development nationally, we are seeking to connect our goals of neighborhood revitalization and community wealth-building; this program is one way of making that connection. To learn more about Capital Impact Partners and our programs visit https://www.capitalimpact.org/programs/.

Disclaimers

1. THE SERVICES PROVIDED UNDER THE EDI PROGRAM ARE KNOWLEDGE-TRANSFER OR “CONSULTING” SERVICES IN CONNECTION WITH WHICH GENERAL INFORMATION ABOUT REAL ESTATE DEVELOPMENT WILL BE PROVIDED TO YOU. THE SERVICES PROVIDED UNDER THE PROGRAM DO NOT CONSTITUTE LEGAL, FINANCIAL, INVESTMENT, TAX, OR ACCOUNTING SERVICES OR ADVICE, AND DO NOT GIVE RISE TO THE ATTORNEY-CLIENT PRIVILEGE OR OTHER LEGAL PROFESSIONAL PRIVILEGES OF ANY KIND; YOU MUST CONSULT WITH YOUR PERSONAL LEGAL, FINANCIAL, INVESTMENT, TAX AND ACCOUNTING ADVISORS AT YOUR OWN EXPENSE FOR PROFESSIONAL ADVICE THAT IS TAILORED TO YOUR PARTICULAR NEEDS.
    
2. THIS IS NOT AN APPLICATION FOR A LOAN.  THE EDI PROGRAM IS A TECHNICAL ASSISTANCE PROGRAM, NOT A CREDIT PROGRAM. MOMENTUS CAPITAL’S TECHNICAL ASSISTANCE AND LENDING SERVICES ARE PROVIDED BY SEPARATE DEPARTMENTS OF THE ORGANIZATION. ALL LOANS ARE SUBJECT TO MOMENTUS CAPITAL'S STANDARD APPLICATION, UNDERWRITING AND APPROVAL PROCESSES (“LOAN PROCESSES”).  PREFERENTIAL TREATMENT IN THE LOAN PROCESSES WILL NOT BE GIVEN TO EDI PROGRAM PARTICIPANTS. 

Non-Discrimination Policy 

Momentus Capital does not discriminate on the basis of race, color, religion, national origin, sex, marital status, age, disability or any other characteristic protected under applicable federal, state, or local law.
 

Contact Information  Please reach out to Aaron Gougis, Dallas Initiatives Manager, at agougis@capitalimpact.org with questions about the program and application process. Support@submittable.com can help with application software issues.

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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