Lead-Safe and Healthy Homes Financing Demonstration

This funding opportunity supports the establishment of a National Fund Manager (NFM) to design and administer a Lead-Safe and Healthy Homes Fund Demonstration. The purpose of this initiative is to create the first national financing facility that aggregates public and private capital to accelerate the reduction of residential lead hazards and advance the eradication of childhood lead poisoning. Authorized under Sections 501 and 502 of the Housing and Urban Development Act of 1970 and funded through the Further Consolidated Appropriations Act, 2024, the program seeks to leverage federal resources at a minimum 4-to-1 ratio to expand investment in lead hazard control and healthy housing interventions.

The National Fund Manager will raise and assemble capital, develop financial products such as credit enhancements and loan guarantees, and partner with community development organizations to expand access to grants and loans for low- and moderate-income households. By mobilizing private sector investment alongside public funding, the program aims to accelerate lead hazard remediation, complement existing HUD and EPA programs, and strengthen national capacity to address housing-related health and safety hazards.

To be eligible to be the National Fund Manager, the applicant must meet the following conditions:
• The applicant must be a Community Development Financial Institution (CDFI) certified by the U.S. Department of Treasury CDFI Fund.

Additional Information on Eligibility
Other: In addition to the entities listed above, CDFI organizations are eligible to apply for funding under this NOFO who can demonstrate knowledge, skills and experience in but not limited the following areas:
• Have experience serving as a fund administrator, including designing and implementing mission-driven funds, especially in the housing sector;
• Have relevant home repair program knowledge and experience; lead-safe and lead abatement program experience preferred;
• Have a history of lending in disadvantaged communities;
• Demonstrate financial strength and stability;
• Ability to fully capitalize the fund, leveraging public investment by at least 4-to-1 over 3 years;
• Demonstrate clear support from their Board of Directors;
• Demonstrate a commitment to racial equity and social justice and an understanding and recognition that low-income and minority communities bear a disproportionate burden of lead exposure.

Assistance is awarded competitively by HUD’s Office of Lead Hazard Control and Healthy Homes (OLHCHH). Applications are reviewed against rating factors such as capacity, fund administration experience, and financial stability. HUD makes the final award decision and notifies the selected applicant, who will serve as the National Fund Manager (NFM).

This accounts for the time from application submission to HUD’s final award determination and notification to the selected National Fund Manager.