Supports the production, preservation, and rehabilitation of owner-occupied housing for low-income households, and programs to enhance rental opportunities for very low-income households within the City of Knoxville.
The Fund is designed to accept applications for a wide variety of projects that will result in increased housing opportunities for low-income households within the City of Knoxville. Fundable activities are grouped into two categories and include but are not limited to:
Funds may be awarded in the form of secured loans or lines of credit, forgivable loans, grants or any combination thereof, though renter-occupied housing programs are limited to grant funding only at this time.
“Low income” for the Affordable Housing Trust Fund is defined as “qualified persons or families who lack the amount of income which is necessary, as determined by the Fund Advisory Board, to enable them without low interest financial assistance, to live in decent, safe and affordable dwellings without overcrowding.” The Advisory Board has adopted the income guidelines of the U.S. Department of Housing and Urban Development’s HOME Program as the relevant income limits for projects funded by the Affordable Housing Trust Fund. Rental programs must serve client households meeting the definition of “very low-income” or 50% area median income (AMI). Homeownership programs must serve residents who meet the “low-income” or 80% AMI threshold for Knoxville. The HUD income limits are updated from time to time. The most current limits can be found here: https://www.hudexchange.info/manage-a-program/home-income-limits/.
Awards are generally for one-year terms, but other terms will be considered if needed for the success of the project.
Selection of projects for funding will be competitive. Among the factors considered will be how well the proposed project meets the following standards:
Applications must be submitted via the Foundation’s online grants management system. We encourage applicants to read instructions about applying online before connecting to the online application.
Applications to the Affordable Housing Trust Fund are reviewed by the Advisory Board at their annual fall meeting. To be considered, applications are due by August 1st, respectively. Awards are subject to availability of funds.
Please direct questions to:
Traci Sisson, Fundholder Services Officer
East Tennessee Foundation
520 W. Summit Hill Drive, Suite 1101
Knoxville, TN 37902
Telephone: (865) 524-1223 or toll-free (877) 534-1223