NOFO Released for the New PRICE Grant Competition

By: Steven Molinari, Policy Analyst

On February 28, 2024, HUD released a notice of funding opportunity (NOFO) for the Preservation and Reinvestment Initiative for Community Enhancement (PRICE) grant competition.

Under the direction of Congress, HUD is undertaking this newly created grant competition using the Community Development Block Grant (CDBG) statutory and regulatory framework. The grant will provide $225 million in total funding for the preservation and revitalization of manufactured housing and manufactured housing communities (MHCs).

Eligible uses of funding range from the repair, rehabilitation, or replacement of existing manufactured housing units to planning activities, resilience activities and or environmental improvements for MHCs.

Of the total amount, $200 million is reserved for the main PRICE competition with at least $10 million of that amount reserved for Tribal applicants. The remaining $25 million is reserved for a pilot program intended to assist in the redevelopment of manufactured housing communities as replacement housing.

HUD expects to grant 25 awards ranging anywhere from $5 million to $75 million. Tribal applicants can request minimum grants of $500,000.

Applications are due by June 5, 2024 at 11:59 pm ET.

Eligible applicants include:

• State governments
• Local governments
• Tribal Applicants
• Multi-jurisdictional entities
• Cooperatives
• Nonprofit entities (including consortia)
• Resident-controlled MHCs
• Community Development Financial
• Institutions (CDFIs)

To view and or apply to the NOFO, please see here.

For more information about the PRICE grant competition, please see HUD’s website here.