The State has a new housing program for developers to help address the housing needs of communities across Kansas.
The Startup Housing Opportunity Venture Loan, or SHOVL program provides funding to housing developers for expenses incurred before the closing of permanent financing for housing developments.
To qualify for the SHOVL program, the housing development must directly connect to economic development.
This link may include the chance to attract a new business with the development of workforce housing; a pending economic development project that will require additional housing; or job retention of a local business dependent upon adequate housing.
SHOVL is available for housing developers looking to construct housing developments in communities with populations of 10,000 or less.
The program will offer a no-interest loan of up to $25,000, and require a 20% match.
Loans are available to private developers, non-profit organizations, or the local government.