Funding Overview

Homekey Round 2 Key Items

  • Capital Award Per Door - $150,000 - $200,000. Higher level of support for Homeless Youth or Youth At Risk of Homelessness, Chronically Homeless, and Family Units. Award level must be justified by appraisal and other documentation. 

  • Capital Match - 1:1 up to an additional $100,000 per door. 

  • Operating Award per Unit - $1,000 -$1,400 per Assisted Unit per month. Higher level of support for Homeless Youth or Youth At Risk of Homelessness and Chronically Homeless. Award level must be justified by appraisal and other documentation. 

  • Operating Match - Two (2) years if Applicant commits three (3) years of operating funding; Three (3) years if Applicant commits four (4) years of operating funding. 

  • Capital Expenditure Deadline - Eight (8) months from the date of the award, per statute. 

  • Operating Expenditure Deadline - June 30, 2026 

  • Occupancy Deadline - Within 90 days of construction or rehab completion. 

  • Bonus Awards - For applications submitted by January 31, 2022; for expedited occupancy within eight (8) months of award. 

Homekey Grant funds: $1.45 billion (FY 2021-22)

  • Of the $1.45 billion in Homekey funding, $1.2 billion is derived from the Coronavirus State Fiscal Recovery Fund (CSFRF) established by the federal American Rescue Plan Act of 2021 (ARPA) (Public Law 117-2) and $250 million in state General Funds.

  • Capital funds must be expended within eight months of the date of award, as required by statute. For Projects that involve acquisition and are receiving capital awards, Grantees must expend the funds by the expenditure deadline and the project escrow must be closed by the expenditure deadline. To meet this requirement, the Department will provide ongoing support to assist Grantees and has developed an accelerated award and disbursement process.

  • All operating funds must be fully expended by the recipient by no later than June 30, 2026.