City of Boise, ID
12/17/2024 | Press release | Distributed by Public on 12/17/2024 10:06
Boise Awarded $6.6 Million To Support Housing Initiatives
Boise Awarded $6.6 Million To Support Housing Initiatives
December 17, 2024
The City of Boise has been awarded $6.6 million from the U.S. Treasury's Social Impact Partnerships to Pay for Results Act (SIPPRA) program. This money will be used to further the city's housing initiatives, aimed at building and sustaining 250 new homes for individuals transitioning out of homelessness, alongside our partner, Our Path Home.
"We are excited to leverage this opportunity from U.S. Treasury supporting our efforts to make sure that every resident has a home here in Boise," says Mayor McLean. "This funding will play a vital role in helping our most vulnerable residents not only find stable housing, but also have the support they need to thrive long-term."
As announced earlier this year in her State of the City, Mayor McLean launched the Supportive Housing Investment Fund (SHIF) in partnership with the Idaho Community Foundation. SHIF sustains wraparound supportive services for permanent supportive housing, generating positive outcomes for both residents and the community. The city has contributed $7.5 million in seed funding to the program and plans to reinvest the $6.6 million back into the fund, ultimately supporting 143 homes.
The City of Boise, along with partners at Terry Reilly Health Services and Boise City/Ada County Housing Authorities, are already demonstrating the success that the SIPPRA program measures - a reduction in community costs through these efforts. New Path Community Housing, an existing permanent housing development in Boise that provides many of the services that SHIF is modeled after, has generated over $8.8 million in cost savings in the program's first 5 years.
Boise is one of only six communities selected nationwide to receive this award. The program's results are monitored independently and locally by the Idaho Policy Institute, who will receive an additional nearly $1 million to fund their research. For more information on the measuring process, contact Vanessa Fry, the Director of The Idaho Policy Institute at [email protected].
Contact: Mayor's Office Media Relations
(208) 972-8520 | [email protected]
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