BENTON COUNTY, Ark. (KNWA/KFTA) — Benton County announced on Sunday it will be receiving $2.4 million from the U.S. Department of Treasury to “boost the supply of affordable housing” under the American Rescue Plan Act, part of the Emergency Rental Assistance Program.
According to a press release, the money will help fill funding gaps and expedite construction on thousands of affordable housing projects.
Organizations can apply if they demonstrate they meet four core requirements for federal housing programs and the project liquidation date of December 31, 2025.
The requirements are resident income restrictions (50% AMI), the affordability period and related covenant requirements for assisted units (20+ years), tenant protections (rental stability), and housing quality standards (maintenance/upkeep), according to the release.
Those interested in applying have until Wednesday, June 7 at 4 p.m. to submit their proposals. For more information, you can visit the open bids section of Benton County’s website.