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​Local Innovation and Fast Track (LIFT) Homeownership 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.

OHCS is seeking to standardize documents used in LIFT deals. The following documents are draft templates. Finalized documents will be posted to this site when ready.

Fannie Mae has authorized a waiver to LIFT projects in order to qualify for certain types of loan products. More details can be found in the waiver document (pdf)​.

With a focus on increasing housing supply, LIFT funds can 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 using a shared equity model such as a community land trust, condo, or leasehold property.

OHCS offers funds through Notices of Funding Availability (NOFAs). Applications will be scored against minimum requirements on the following categories:

  • Development Capacity
  • Development Experience
  • Equity and Community Engagement
  • Financial Viability
  • Project Details
  • Stewardship Experience