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Homeownership Development

Local Innovation and Fast Track (LIFT) Homeownership Program

NOTE: LIFT Homeownership Notice of Funding Availability (NOFA) 2022 open now. For more information, visit our NOFA webpage.
The Local Innovation and Fast Track Homeownership Program, created alongside the LIFT Rental Program in 2016, is intended to create affordable homeownership opportunities for low- to moderate-income families. 

The LIFT Homeownership Program is directly aligned with three aspects of the Statewide Housing Plan, including Rural Communities, Homeownership, and Equity and Racial Justice. OHCS is committed to closing the housing gap in communities of colors, especially in rural communities.

With a focus on increasing housing supply, LIFT funds can only be used for new construction or conversion of existing non-housing structures with units being completed and ready for sale within 36 months of receiving a funding reservation.

Utilizing Article XI-Q bond funding as a source for housing development, LIFT requires the state to have an ownership or operational interest in any real property developed. For homeownership opportunities, this means structuring developments as community land trusts. See the fact sheet for more information.

OHCS offers funds through competitive Notices of Funding Availability (NOFAs). 

A scoring committee made of internal and external members review and rank the applications. The membership includes representatives from:
  • Communities of color
  • Diverse geographical regions
  • Industry experts (private & public)
LIFT Homeownership is offered in NOFA rounds through the Affordable Rental Housing division.

Factors considered include:
  • Service to communities of color
  • Readiness for development
  • Affordability for those earning below 80% area median income
  • Demonstration of construction costs in line with industry norms
  • Demonstration of innovation, efficiency or replicability
  • Lower amounts of LIFT subsidy