Are there resources to help us make capital improvements?
You may need to make capital improvements to properties for a variety of reasons:
- Changing needs or preferences of the target population
- Changes in state policies or consumer
- Age of property
- Impact of storms or other natural disasters
Need to make your property more accessible? Check out our Accessibility page for additional resources.
Resources to Help Fund Needed Capital Improvements
The resource links below may be able to help you fund needed capital improvements.
- Community Development Block Grant funds can be used to rehabilitate properties owned by nonprofit agencies as well as to make access modifications.
- HOME funds can be used to rehabilitate properties owned by nonprofit agencies.
- The Community Development Block Grant Disaster Recovery Program (CDBG-DR) provides rehabilitation funding after disasters.
- Capital Needs Assessment e-Tool provides an automated process for preparation, review, submission, approval, and periodic updating of capital needs assessments. The CNA e-Tool is suitable for use by any multifamily housing program.
- With HUD approval, Reserve for Replacement funds can be used to meet eligible capital needs.
- With HUD approval, Residual Receipts can be used for capital improvements.