Deutsche Bank Supportive Housing Acquisition and Rehabilitation Effort (DB SHARE)
Type
Pre-development/Acquisition
Source
Private
Procurement Agency
Private
Total Annual Award
$2.7 million in 2010 to 12 organizations.
Eligible Populations
Formerly homeless individuals with special needs.
Eligible Projects
New York City permanent supportive housing providers seeking funds for a number of uses including: site search and acquisition, design, environmental assessment, costs associated with adopting an energy efficiency design, development of community support strategies and service program methodologies, and project management.
Funding Award Details
In its first four funding cycles, Deutsche Bank Americas Foundation's SHARE program granted awards to 36 organizations developing close to 2,500 supportive housing units. Awards are made available every three years with the next round expected in 2013.
Rate Details
Each grant recipient receives a three-year award of $75,000 per year for a total of $225,000. The annual award amount consists of a $50,000 project-specific grant and a $25,000 soft loan with 0% interest to be repaid within three years of disbursement (the three loan installments must be repaid in years four, five and six, respectively.)
Term of Service/Length of Grant
Three years.
Limitations
Applying organizations must have:
- a history of sound financial management
- proof of New York State nonprofit and tax-exempt status and
- its headquarters and proposed development located within the five boroughs of New York City.
Network Notes
To submit a competitive application, Deutsche Bank recommends that the applicant have (or be close to obtaining) site control. Letters of interest should evidence resources such as land, funding and development partners that are committed in support of achieving plan objectives. Less experienced organizations are recommended to partner with well-established nonprofit or for-profit allies. Deutsche Bank asks that applicants highlight best practices, innovation and design quality.
For More Information
Contact
Sam Marks
Deutsche Bank Community Development Group
(212) 250-3206
sam.marks@db.com
Last updated: 09/20/2011
Did you know…
Supportive housing can reduce the monthly public and private costs of homeless people with substance abuse disorders by 39%.