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Current Funding

Development and Preservation Fund

What We Do

Current Funding

APPLICATIONS NOW CLOSED

Online applications for the second Development and Preservation Fund cycle were accepted February 1st–March 1st, 2023, with funding decisions announced in May. A list of Spring 2023 award recipients can be found in our blog post here.

This round was generously funded in partnership with the City of Omaha, whose investment of $20 million in American Rescue Plan Act funds is being matched through philanthropic contributions to Front Porch Investments.

Applications for the next round of funding will open August 1st, with round priorities and full cycle details to be provided on this page in July. Join our email list to stay up to date on upcoming news and initiatives: https://frontporchinvestments.org/email-signup

PROGRAM BACKGROUND

The Development and Preservation Fund was created in alignment with recommendations provided by the Omaha and Council Bluffs Area Assessment of Housing Affordability, Needs, & Priorities report. As identified in the assessment, the broad goals of the fund are to:

  • Provide gap financing for the development of new affordable housing, including mixed-income rental housing, the creation of affordable housing in areas near job centers and transit, and transformative "catalyst" projects in neighborhoods undergoing broader revitalization efforts
  • Provide needed gap financing to preserve and improve the quality of at-risk dedicated affordable rental housing, as well as "naturally occurring" affordable housing properties in deteriorating condition or at risk of conversion to market rate

Additional investment priorities for the Development and Preservation Fund include increasing housing ecosystem capacity; increasing accessibility; increasing housing stability; expanding housing options; supporting equity and housing justice; supporting innovation and best practices; and supporting collaborative partnerships.

The first round of funding launched in August 2022 through a partnership between Front Porch Investments and the City of Omaha, who invested $20 million in American Rescue Plan Act (ARPA) funds that are being matched by $20 million in philanthropic contributions. Funds will be allocated across multiple biannual funding cycles.

Please note: Funding cycles are competitive. Applications go through a multi-stage review process, including rigorous underwriting for loan applications. Submitting a loan and/or grant application does not guarantee funding.

APPLICANT RESOURCES

Supporting Materials
  1. Application Access Instructions – Submittable platform
  2. FPI Priorities – resident, project, and property characteristics
  3. GIS Mapping Tool – to identify QCTs and proximity to transit and employment centers
  4. Area Medium Income (AMI) Limits Chart – effective June 15, 2022
  5. What is a Planning Grant? – FPI blog
  6. Small and Emerging Business (SEB) Directory/Search – City of Omaha Human Rights and Relations

Language Accessibility

We have installed a plug-in for language translation on our website, which is positioned at the top right of this page. Application preview documents are currently provided in both Spanish and English. A transcript will be provided each cycle of the funding information video, which will include auto-generated closed captions in English. Word (docx) versions of additional materials can be shared upon request for independent translation.

If additional language assistance or accessibility supports are needed to apply, please email Tess at tess@omahafoundation.org. We proudly partner with World Speaks for translation services, and Front Porch will cover the cost of pre-approved services during application periods. 


Sample Applications

Draft previews of applications from the Spring 2023 cycle are provided below. These are for reference only and are subject to change. Updated documents will be posted in July for the Fall 2023 funding cycle, set to open August 1st.  

  • PROJECT LOAN
  • PROJECT GRANT
  • PROGRAM GRANT
  • PLANNING GRANT
    • A planning grant application is in the works for future funding cycles.

ARPA Information*
  1. General Overview
  2. Procurement Guidelines – for long-term loan projects that involve contracting/subcontracting
  3. Affordable Housing How-To Guide – How to Use State and Local Fiscal Recovery Funds for Affordable Housing Production and Preservation (U.S. Department of the Treasury)
  4. Compliance and Reporting Guidance – State and Local Fiscal Recovery Funds Guidance on Recipient Compliance and Reporting Responsibilities (U.S. Department of the Treasury)

*We suggest independent review by legal experts.

ARPA funding is made possible through a partnership with the City of Omaha.

  • City Seal
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