Affordable and diverse housing fund

Initiatives and projects can contribute to one or more of these outcomes:

• maximise the amount of subsidised housing within our area
• leverage funds from sources external to the City of Sydney and its programs, including private debt finance, charitable donations and grants from state and federal government
• encourage a broad range of community housing providers to invest in and operate diverse housing within our area
• ensure the continued use of funded projects as subsidised housing
• support ongoing management in line with the applicable regulatory requirements, such as NSW affordable housing guidelines.

Applications are assessed against these criteria:

• amount, nature and location of subsidised housing and any other uses being delivered
• proportion of the total project cost requested as City of Sydney funding (including cash, value-in-kind and land)
• proportion of total project cost funded by the applicant and other sources
• property development experience, expertise and capability of the applicant/deliverer (must demonstrate experience and relationships with key organisations and stakeholders that support the ongoing wellbeing of residents)
• experience in the operation and management of the type of housing by the applicant/manager in compliance with relevant regulations
• financial capacity of the applicant.

• funds must only be used for capital expenditures on net new subsidised affordable housing developments 
• our financial contribution will generally not exceed 30% of the total cost of the subsidised housing
• funds will not be released until a construction certificate is issued
• we may seek to secure the use provided through a mechanism/instrument such as a registered positive caveat, on the land used for the project
• if the project stops being affordable housing in the manner we have approved, the recipient will repay us the full amount granted less proportional construction costs and depreciation
• we will require the funds to be repaid if the project completion date is not met, the project is terminated, the recipient becomes insolvent, or the project description changes materially
• the recipient must operate the facility in line with federal, state and local government regulatory requirements
• generally, housing delivered through the fund is to be rented to a range of low to moderate income earners at no more than 30% of gross household income, in line with NSW affordable housing guidelines
• the facility must generally be completed within 3 years of funding approval
• if a for-profit entity is the proposed recipient of a grant from the fund, the proposed grant will be advertised for at least 28 days before the proposed date of the grant under section 356(2) of the Local Government Act 1993.

For comprehensive information, including definitions and other details, refer to the grants and sponsorship program guidelines.

To see what projects have been awarded our grants and sponsorships in the past, please search for grants in our statutory returns annual reports.