Initial Funding Round

Homes for Homes Initial Funding Round

Since inception in 2015 Homes for Homes has successfully raised funds via voluntary tax-deductible donations on property transactions in both the Australian Capital Territory and Victoria.

Based on funds raised to date, Homes for Homes is now inviting Expressions of Interest (EOI) from housing providers who can contribute to the delivery of social and affordable housing in Victoria and the Australian Capital Territory.

The following funding is available as part of this initial funding round:

  • Victoria: $300,000
  • ACT: $200,000

Applications open on Monday 15 January 2018 and must be submitted by 5pm on Monday 26 February 2018.

Contents

  1. Funding Objectives
  2. Application Process
  3. Assessment Process
  4. FAQs

Funding Objectives

Homes for Homes is a new funding source that is designed to increase the supply of social and affordable housing in the applicable state or territory. Homes for Homes is taking an open and flexible approach to the type of housing projects it will fund and invites suitable applicants to present proposals that will best address housing issues in their area, based on their knowledge and experience. Homes for Homes would like to encourage all potential applicants to take advantage of this unique funding opportunity.

Broadly, Homes for Homes is looking for projects that meet the following objectives:

  1. Increase access to social and affordable housing across Australia – housing that is safe, suitable, fit for purpose, adaptable, socially, economically and environmentally sustainable, and well located to services and facilities.
  2. Promote flexibility in housing design to meet local needs and priorities, complement existing market efforts and address social and affordable housing needs across the housing continuum.
  3. Facilitate strategies that alleviate homelessness and help transition households into employment and financial independence.
  4. Provide opportunity for people to improve their life circumstances and contribute to their community.
  5. Foster an active and competitive market for a wide range of social and affordable housing opportunities and projects.

Application Process

Homes for Homes welcomes the opportunity to work with all organisations that want to help address one of Australia’s biggest social issues, and have the skills and capacity to help increase the supply of social and affordable housing.

Interested organisations are encouraged to read the below documents prior to completing their funding submission:

Steps to apply – EOI

Step 1. Download, save and complete the EOI Application Form
Step 2: Attach the supporting documentation. This must include:

  • A copy of your organisation’s professional indemnity insurance policy and level of cover (minimum of $5 million) (refer 1.2 Application Form)
  • A copy of your organisation’s public liability insurance policy and level of cover (minimum of $20 million) (refer 1.2 Application Form)
  • A copy of your organisation’s most recent three audited financial statements (or a website link to these reports) (refer 2.2 Application Form)
  • Statement regarding financial capacity (refer 2.2 Application Form)
  • Any other supporting documentation you feel is relevant information

Step 3: Email the completed EOI Application Form and supporting documentation to  by 5pm on Monday 26 February 2018.

All EOI Application Forms are submitted on the basis of the Homes for Homes Initial Funding Round Guidelines, including the “Conditions of Participation”.


Assessment Process

EOI applications will be assessed by state-based Housing Advisory Groups made up of independent experts from the government, property, finance and social housing sectors.

Shortlisted applicants will be invited to provide more detailed information as part of Stage 2 of the Initial Funding Round. They may also be requested to participate in an interview to support their proposal.

Unsuccessful applicants will be notified in writing that their application has not been shortlisted.

Homes for Homes reserves the right not to proceed to Stage 2 of the initial funding round at any stage.


FAQs

When does this funding round open and close?

Applications for the initial funding round open Monday 15 January 2018 and close at 5pm on Monday 26 February 2018.

What happens if my application is successful?

If your application is successful in the EOI stage, you will be contacted to participate in the second (final) round. This will involve providing further documentation and may also involve an interview.

What happens if my application is unsuccessful?

You will be notified in writing if your application is unsuccessful.

Can I apply for funding to support an existing project?

Yes, Homes for Homes encourages the use of funds to leverage existing projects.

Can I apply if we are a for-profit organisation?

Yes, Homes for Homes encourages applications from all organisations that are able to demonstrate the ability to increase the supply of social and affordable housing.

Do we need to be a registered Community Housing Provider?

You do not need to be a registered Community Housing Provider to apply for Homes for Homes funding. However, if you are not registered you will need to provide some additional documentation.

What will the reporting process be for the funding?

Reporting requirements will be determined as part of Stage 2 of the initial funding round, but are likely to include progress reports (dependent upon the length of the project), a final report and appropriate financial acquittals.

When will funding be provided to the successful applicants?

Provision of funding to successful applicants will be determined as part of Stage 2 of the initial funding round. This will depend on the details of the proposed project and will be agreed with the successful applicant. We anticipate funding will be released in 2018.

What is the timeframe during which the funds are required to be spent?

Timing of the release of funding to successful applicants will be determined as part of Stage 2 of the initial funding round. This will depend on the details of the proposed project and will be agreed with the successful applicant.

Who are the target group?

For the purpose of Homes for Homes, social and affordable housing is housing that is appropriate for the needs of a range of very low to moderate income households. Housing is usually considered affordable if it costs less than 30% of gross household income. It is priced so that these households are also able to meet other basic living costs, such as food, clothing, transport, medical care and education.

Is this first round different from other rounds?

As Homes for Homes is in its early establishment, it is anticipated that the funds available in future rounds of funding will be higher than those available in this initial round.

How much funding can I apply for?

You may apply for part or all of the funding that is made available in each State or Territory. In Victoria the available funds are $300,000 and in the ACT the available funds are $200,000.

How many applicants will be shortlisted in each state?

Applicants will be shortlisted for the next round based on merit. We do not have a pre-determined number of shortlist places available.

Who do I contact for more information?

For further information about the initial funding round, please contact Homes for Homes at or on 1300 767 918.