Field Order 15 Fund

Field Order 15 Fund

Funder: Washington State Community Reinvestment Program (CRP), launched in partnership with Black Home Initiative (BHI)

Status: Active and expanded (November 2024)

Geographic Scope: Washington State

Focus Areas: Support for BIPOC (Black, Indigenous, and People of Color) affordable housing developers and homeownership

Program Details:

Initial Phase (Launched January 2024)

• Provides upfront grant money to BIPOC developers
• Offers eligibility for low-interest lending
• Provides technical support for BIPOC developers building affordable homes

Expanded Phase (November 2024)

• $5,000,000 grant from Community Reinvestment Program to expand Field Order 15 Fund
• $2,800,000 to provide homeownership down payment assistance
• Creates new low-interest loan program
• Enables BIPOC developers to purchase land for home building
• Opens doors for previously excluded home developers

Eligibility:

BIPOC developers building affordable homes in communities needing housing resources

Focus on addressing housing shortage disproportionately impacting BIPOC communities

Targets communities harmed by the war on drugs (CRP community-designed plan)

Background:

Launched January 2024 in partnership with Black Home Initiative

BIPOC homebuilders represent only 0.5% of real estate developers nationwide

Addresses racial disparities in homeownership and housing market

Part of community-designed plan to uplift communities disproportionately harmed by the war on drugs

Contact Information:

Main Office: (206) 723-4355

Email: info@homesightwa.org

Executive Director: Darryl Smith