The Federal Community Housing Initiative is a $500 million investment over 10 years. There are 2 phases:
- Phase 1 (FCHI-1) provides funding over a 2-year period from April 1, 2018 to March 31, 2020. It supports federally administered community housing projects as long-term agreements reach their end dates.
- Phase 2 (FCHI-2) provides new rental assistance support to federally administered community housing providers reaching the expiration of an operating agreement. It is available as of April 1, 2020 until March 31, 2028.