On Monday, May 16, Fannie Mae launched the 2022 Sustainable Communities Innovation Challenge (IC22), a $5 million competition to identify innovative projects promoting racial equity in the US housing market. The story of housing in America includes a history of systemic racism and lack of affordable housing that has disproportionately impacted Black communities. IC22 seeks innovative ideas and solutions that address barriers that many Black renters, homebuyers, and homeowners face. In particular, the challenge seeks to fund projects related to the insufficient supply of quality affordable housing options; insufficient funds for security deposits, down payments, closing costs, and reserves; and low credit scores or credit invisibility.
Idea submissions will be accepted until Friday, June 17. Click here for more information.