NOFO: Community Reinvestment Plan Homeownership Capital Accelerator
Background
In 2022, the Legislature created the Community Reinvestment Account, setting aside funding to address racial, economic, and social disparities in communities disproportionately harmed by the historic design and enforcement of state and federal criminal laws and penalties for drug possession (the “war on drugs”). The Legislature directed the Department of Commerce to invest the funds in four program areas: economic development, civil and criminal legal assistance, community-based violence intervention and prevention services, and reentry services.
As laid out in the Community Reinvestment Plan, data demonstrates that in our state, those most impacted by the war on drugs are Black, Latine, and tribal individuals and communities. Geographically, the most impacted counties are; Clark, King, Pierce, Snohomish, Spokane, and Yakima.
These communities and counties will be prioritized, but not exclusively, for the distribution of awards under this funding opportunity and for the community reinvestment funds.
Notice of Funding Opportunity
As part of these investments, Commerce is releasing this Notice of Funding Opportunity (NOFO). We are requesting proposals from applicants qualified and interested in receiving loan capital to reduce monthly mortgage payments and/or increase capital for Black, Latine, and tribal communities harmed by the historic design and enforcement for drug possession. For further details, see the Notice of Funding Opportunity.
- Applicants must be registered as a CRP verified “By-and-For” organization, or be contractually partnered with a CRP verified “By-and-For” Organization, to deliver the Objectives and Scope of Work identified in this NOFA. To learn more about registration, visit https://bit.ly/crpwareg
- Federally recognized tribal nations in Washington state are automatically eligible to apply, and do not need to register as or partner with a CRP-verified “by-and-for” organization
JUNE 17, 2024 UPDATE: Due to a high level of applications and time needed to review and conduct interviews, award notification for this grant will be postponed until July 12th or sooner.