CZI: Innovative Housing Finance RFA

From Chan Zuckerberg Initiative

The Chan Zuckerberg Initiative (CZI) focuses on leveraging the power of patients to accelerate research and drive progress against rare diseases. Through close collaboration with patient communities, rare disease experts, and advocacy organizations, CZI aims to empower patient-led initiatives in combating rare diseases.

Type of Support

Overview

The Innovative Housing Finance Request for Applications (RFA) seeks to support funds implementing creative solutions for financing both the production and preservation of housing in California, aiming for a future where everyone can access safe, stable, accessible, and affordable homes. This initiative focuses on financial strategies that lower construction and preservation costs, overcome barriers to financing innovative housing models, and leverage new funding sources to scale impact towards meeting California's housing needs. Targeting low and moderate-income households, the RFA encourages applications for funds that:

  • Reduce the production or preservation costs through various means like cost-efficient construction, utilization of surplus lands, and streamlined financing.
  • Address unique financial barriers in housing projects such as development on surplus lands, and support for different ownership models.
  • Innovate to unlock or leverage additional funding sources, integrating mechanisms like pension and climate funds.

Selected proposals may receive program-related investments (PRIs) ranging from $1-3M, potentially accompanied by grants for operating costs, aiming to catalyze progress towards achieving California's ambitious housing goals.

Eligibility

Organization's Location
USA
Program Location
CA
Organization Type
Nonprofit enterprises
For-profit enterprises
Organization Budget And Years
Organization's annual budget is at least 1M
Other
  • Must develop funds to support housing projects
  • Can be an intermediary lender or manage funds for own housing projects
  • For-profit funds must allow a PRI to meet IRS charitability requirements
  • Operational for 3+ years with an operating budget of $1M+ and $5M+ in assets
  • Demonstrated track record in launching and managing a fund
  • Need not be based in California but must operate there, with at least 75% of CZI funds invested in CA housing projects
  • Fund must finance the development or preservation of housing for low/middle-income households (up to 120% AMI)
  • Overall fund will support at least 50 units/households, with potential for scalability
  • Financing solution should be replicable across CA
1M – 3M

Submission

Schedule
Step 1: Letter of Inquiry
Application deadline
May 16, 2025
Step 2: Full proposal (check website)