Goal and Purpose of the Grant
The Rent Stabilization Grant is designed to assist Colorado Resident Owned Communities (ROCs) and other non-traditionally owned manufactured home communities in covering unforeseen costs that would otherwise necessitate a rent increase for residents. Some examples of eligible costs include unexpected capital improvements, infrastructure repairs, and unanticipated increases in property management expenses that were not accounted for in the community's budget. The goal of the grant is to prevent sudden or burdensome rent hikes by providing financial assistance for these necessary, unplanned expenses, thereby stabilizing rents and ensuring that residents are not disproportionately impacted by sudden cost increases.
Basic Guidelines
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Communities can apply once per calendar year. If a community was a recipient of a rent stabilization grant the year prior, they must spend down that award before the can re-apply.
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Pre-award costs are generally not eligible unless they were an emergency expense or another cost with extenuating circumstances that could not wait for the grant. In general, a grant agreement must be signed by all parties before the proposed project can move forward.
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The grant opportunity is available to ROCs, as well as other manufactured home communities that have a public ownership structure, such as non-profit owned, government owned, or community land trusts.
The grant application process is moving to a quarterly application cycle in 2025!
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Q1 (1/1 to 3/31): Application window open: January 1 through March 31. Applications submitted after March 31 will not be accepted during this quarter. Applications will be reviewed with awards announced by April 15.
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Q2 (4/1 to 6/30): Application window open: April 1 through June 30. Applications submitted after June 30 will not be accepted during this quarter. Applications will be reviewed with awards announced by July 15.
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Q3 (7/1 to 9/30): Application window open: July 1 through September 30. Applications submitted after September 30 will not be accepted during this quarter. Applications will be reviewed with awards announced by October 15.
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Q4 (10/1 to 12/31): Application window open: October 1 through December 31. Applications submitted after December 31 will not be accepted during this quarter. Applications will be reviewed with awards announced by January 15.
Apply Here
Reminders:
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Maximum $80,000 per Grant
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Communities can apply once per year
Questions?
Email us: SB160@thistle.us
Resident Owned Communities
Click to see where Thistle's ROCs are located!