About the LIFT Program
The Local Innovation and Fast Track (LIFT) 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 color, 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.
LIFT Factsheet
OHCS offers funds through competitive Notices of Funding Availability (NOFAs).
A scoring committee reviews and ranks the applications. 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
The Homeownership Market Cost Offset Fund (HMCOF) for LIFT Homeownership projects is closed.