A $100 million fund to address affordable housing needs at scale 

Home Matters to Arizona is the first statewide initiative of Home Matters, a national movement uniting America around home. The first phase of Home Matters to Arizona involves creating the new $100 million Home Matters Arizona Fund, leveraging government, philanthropy and national private investment. Initial grants are from health plans, the private half of the public- private partnership model that comprises the Arizona Health Care Cost Containment System (AHCCCS). Additional funding is being pursued from a variety of sources. Future phases will focus on collaborations, building awareness and influencing standard practices for developing more affordable homes and better communities across Arizona. Learn more at www.HomeMattersArizona.com.

Home Matters to Arizona is launching phase one of a planned $100 million Home Matters Arizona Fund to finance community development and affordable housing projects that proactively foster connected and healthier lives. The fund is made up of below market debt financing and charitable grants leveraging government, philanthropy and national private investment over the next two years.

The fund seeks to leverage, not compete, with other affordable housing funds to accelerate development of more homes – and all that ‘home’ represents -- across Arizona.

The fund is targeting projects that serve Medicaid-eligible individuals and may include work force housing under 80% of the area median income for a four-person household. Fund eligibility criteria include:

• Overall Project Impact

• Demographic & Geographic Focus

• Housing Justice

• Connectedness to Community

• Intentional Collaboration

• Resident Engagement & Community Life

The fund will invest in organizations and projects that serve low to moderate income individuals and families, veterans, seniors, the homeless, people with disabilities, individuals involved with justice agencies and those eligible for Arizona Health Care Cost Containment System (AHCCCS).

With the current market demand for affordable homes across the state, the $100 million fund is just the beginning of a much larger investment needed for all Arizonans to realize the dream of home.

Click the ‘Apply for the Fund’ button above. You will be prompted with a pre-screen form that includes more detail about eligibility requirements and criteria helping you assess organization and project alignment.

According to the National Low Income Housing Coalition, in Arizona, $25,100 annual household income is the maximum income for a four-person household considered extremely low-income. Yet an annual household income of $38,390 is needed to afford a two-bedroom rental home, according to HUD’s Fair Market Rent requirement.

Across Arizona, affordable rental homes available to extremely low-income households is in short supply. More than 134,000 units are in demand today and that number is projected to rise. Twenty-three percent (20%) of Arizona rental households are extremely low income; 73% of those are severely cost burdened, spending more than half of their incomes on housing. These households are more likely than other renters to sacrifice necessities like healthy food and healthcare to pay the rent, and to also experience evictions.

Home Matters to Arizona aims to ensure a new generation of affordable housing developments for this population that intentionally create connected communities and prioritize healthier individuals, families and economies.

Housing justice encompasses affordable housing advocacy, as well as renters’ rights, ending homelessness, and other local, state and federal systems change that address racial inequities and increase access to safe, stable, healthy homes for all. The fund seeks to address Arizona’s rising affordability crisis while paying much-needed attention to the role of housing justice for underrepresented families and communities. Home Matters to Arizona aspires to ensure that all Arizonans have access to an affordable place to call home, recognizing that most people want to provide for themselves and their families, have a safe place to call home and pursue their dreams, all of which should be attainable regardless of race, family status, disability.

1. Charitable Donors, Led by Arizona’s Managed Care Organizations - AHCCCS (the Arizona Health Care Cost Containment System), Arizona’s Medicaid agency that offers health care programs to serve Arizona residents, requires participating Managed Care Organizations (MCO’s) to reinvest 6% of their profits into community needs. Arizona Complete Health, Banner -- University Health Plan, Care1st Health Plan Arizona, Magellan Complete Care of Arizona, Health Choice Arizona, Mercy Care, NARBHA Institute and UnitedHealthcare are participating to improve the community need of affordable housing in Arizona. Local and national foundations and philanthropists are also being pursued.

2. Low Interest Loan Lenders – Aetna, a CVS Health company; Dignity; and UnitedHealthcare

3. Home Matters to Arizona Advisory Council - Representing experts in community, health and affordable housing across Arizona, the Council is responsible for the development of funding criteria and evaluating impact of fund investments, ensuring alignment with Home Matters’ principles and values. Founding Advisory Council members include:

• Lorry Bottrill, CEO, Mercy Care

• Dave Brown, CEO, Valley Leadership and co-founder of Home Matters

• Lisa Urias, Chief Community Officer, Arizona Community Foundation

• Joe Gaudio, CEO, West Region, UnitedHealthcare Community & State

• Jonathan Koppell, Dean, Arizona State University’s Watts College of Public Service

and Community Solutions

• Dan Ranieri, President and CEO, LaFrontera Arizona

• Denise Resnik, Founder, President and CEO, First Place AZ

• Jon Perez, Chief Operating Officer, NARBHA Institute

• Michael Trailor, Chief Strategy Officer, Native American Connections and former

Arizona Director for the Department of Economic Security & Department of Housing

• Corey Woods, Mayor, City of Tempe

LISC (Local Initiative Support Corporation) Phoenix, formed in 1992, has collaborated with place-based organizations and corporate, foundation and public partners to create an innovative approach to working with neighborhoods that face systemic challenges. LISC is committed to four pillars of equitable development: affordable housing, economic development, financial stability and healthy communities. It also works to amplify the voices of neighborhoods and to provide resources to place-based partners. LISC will provide underwriting and other asset management services to the Home Matters Arizona Fund.

Home Matters to Arizona began funding projects last year. Applications are available on the website for the next round of funding. You can learn more about the projects on our website in the news section.

Eviction relief is important, especially related to the economic conditions surrounding COVID- 19. Homes Matters to Arizona is focused on adding more long-term affordable housing units in the state. Temporary rental assistance is a separate issue from Home Matters to Arizona’s focus.