The Arizona Community Foundation’s Metro Phoenix Affordable Housing Collaborative Fund is seeking proposals from nonprofit housing developers and plans to award approximately $2.9 million to advance affordable housing production and preservation in the Metro Phoenix Area.
This Request For Proposals process is part of the ongoing work of the Metro Phoenix Affordable Housing Collaborative formed at ACF in early 2022. The Collaborative, which was launched with a $2.45 million philanthropic contribution from the JPMorgan Chase Foundation, began convening in early 2022 to bring together diverse stakeholders to focus on the affordable housing shortage, with an emphasis on housing for people of color and low-to-moderate income individuals. APS donated additional funds to the effort later in 2022.
More information is available here.
Two types of funding support are available from the fund:
- Non-repayable grants for capacity building for nonprofit housing developers preserving or producing affordable housing. Such grants will, for example, help nonprofit housing developers build their internal capacity to produce and/or preserve affordable housing units.
- Repayable loans with zero percent interest for nonprofit housing developers for the preservation or production of affordable housing for rent and/or purchase. These loans could be used by nonprofit housing developers for costs such as those for pre-development, acquisition, or development/construction.
“ACF is committed to the addressing the issues surrounding affordable housing here in Arizona,” said Anna María Chávez, ACF President & CEO. “Our partnership with JPMorgan Chase and APS has brought together more than 30 thought leaders to form the Metro Phoenix Affordable Housing Collaborative. Grants and loans from this fund will support affordable housing and preservation throughout Metro Phoenix.”
“We applaud ACF’s leadership in founding and leading the Metro Phoenix Affordable Housing Collaborative,” said Noreen Bishop Hill, head of the J.P. Morgan Private Bank who also sits on the local leadership team for JPMorgan Chase. “Convening key stakeholders as well as deploying capital to help produce and preserve affordable housing will help advance efforts to address the region’s affordable housing needs.”
“Together, we can make a difference in providing more affordable housing for Arizonans who need it most,” said Miguel Bravo, Manager of Strategic Partnerships for APS. “We are committed in our longstanding partnership with ACF marked by a shared commitment to make Arizona a better place to live.”
Established in 1978, the Arizona Community Foundation is a statewide family of charitable funds supported by thousands of Arizonans. With regional offices serving communities across Arizona, ACF is among the top 25 community foundations in the nation with more than $1.4 billion in trust and endowment assets, is certified under the National Standards for U.S. Community Foundation and has received the highest 4-star rating from Charity Navigator for 12 years. Since inception, ACF has awarded more than $1.2 billion in grants, scholarships, and loans to nonprofit organizations, schools, students, and government agencies.