Housing & Grant Glossary
The language of affordable housing, in plain English
Affordable housing and federal funding come with a lot of acronyms. Here is what the terms mean and how they relate to the foundation's work — written for families, partners, and grant reviewers alike.
Showing 28 of 28 terms
Housing & Vouchers
- Section 8
- A federal rental-assistance program administered by HUD through local public housing authorities. It helps eligible low-income families, seniors, and people with disabilities afford housing in the private market. The Housing Choice Voucher program is the largest part of Section 8.
- Housing Choice VoucherHCV
- The voucher a qualifying household receives under Section 8. The family typically pays about 30% of its adjusted income toward rent, and the voucher covers the remainder up to a local payment standard, paid directly to the landlord.
- Voucher-Ready Housing
- Housing designed and operated so that families holding Housing Choice Vouchers can move in. It means meeting HUD housing-quality standards, setting rents within local payment standards, and welcoming voucher holders rather than turning them away.
- Area Median IncomeAMI
- The midpoint household income for a metropolitan area or county, published annually by HUD. Affordable-housing eligibility is usually expressed as a percentage of AMI (for example, 50% or 60% of AMI).
- Fair Market RentFMR
- HUD’s estimate of what a modest rental unit costs in a given area, used to set voucher payment standards. FMRs are published each year by unit size and location.
- Workforce Housing
- Housing that is affordable to local working households — often those earning too much to qualify for the deepest subsidies but too little to afford market-rate rent in their area.
- Permanent Supportive HousingPSH
- A model that pairs long-term affordable housing with voluntary support services — such as case management, health, or job assistance — to help people who have experienced chronic homelessness or disability stay stably housed.
Funding & Grants
- Low-Income Housing Tax CreditLIHTC
- The largest federal tool for financing affordable rental housing. State agencies award tax credits to developments that reserve units for income-qualified households; investors buy the credits to provide construction capital in exchange for a reduced tax liability.
- Notice of Funding OpportunityNOFO
- A formal announcement from a federal agency that grant funds are available. It describes eligibility, priorities, deadlines, and how to apply. NOFOs are the primary way nonprofits learn about and pursue federal grants.
- Grants.gov
- The central U.S. government website where federal grant opportunities are posted and applications are submitted. Registration there (and in SAM.gov) is generally required before an organization can apply.
- Community Development Block GrantCDBG
- A flexible HUD program that provides funds to state and local governments for community development, including affordable housing, infrastructure, and services that primarily benefit low- and moderate-income people.
- HOME Investment Partnerships ProgramHOME
- A HUD block grant that funds a wide range of affordable-housing activities, such as building, buying, or rehabilitating housing for rent or ownership, and providing direct rental assistance.
- Continuum of CareCoC
- A regional planning body, recognized by HUD, that coordinates housing and services for people experiencing homelessness and channels federal funding to local programs. Many federal housing grants flow through the local Continuum of Care.
- Low-Income Housing Tax CreditLIHTC
- A federal tax incentive, allocated by state agencies, that helps finance the construction and rehabilitation of affordable rental housing. Developers sell the credits to investors to raise equity, in exchange for keeping rents affordable for a set period.
- Notice of Funding OpportunityNOFO
- The official announcement a federal agency publishes when it opens a grant program. It defines who may apply, what the money can fund, the deadlines, and how applications are scored. It is sometimes still called a NOFA.
Nonprofit & Compliance
- System for Award ManagementSAM.gov
- The official U.S. government system where organizations register to do business with the federal government, including applying for grants. A current SAM.gov registration is a prerequisite for most federal funding.
- Unique Entity IdentifierUEI
- The 12-character identifier assigned to an organization through SAM.gov. It replaced the older DUNS number and is used to track entities across all federal awards.
- 501(c)(3)
- The section of the federal tax code that defines tax-exempt charitable organizations. Donations to a 501(c)(3) are generally tax-deductible for the donor, and the organization itself is exempt from federal income tax on mission-related activity.
- Employer Identification NumberEIN
- A nine-digit number the IRS assigns to identify an organization, much like a Social Security number for a business or nonprofit. The Romeo Foundation’s EIN is 41-4327332.
- Fiscal Sponsorship
- An arrangement in which an established 501(c)(3) receives and administers funds on behalf of a project or newer organization, allowing it to accept tax-deductible gifts and grants while its own status is pending.
- In-Kind Contribution
- A donation of goods, services, or time rather than cash — for example, donated land, professional services, or volunteer labor. In-kind support is often counted toward matching requirements on grants.
- Fiscal Sponsorship
- An arrangement in which an established 501(c)(3) organization extends its tax-exempt status to a project or newer group, allowing it to receive tax-deductible gifts and grants while the sponsor provides financial oversight.
- Form 990
- The annual information return most tax-exempt organizations file with the IRS. It discloses finances, governance, and programs, and is publicly available — a key transparency document for donors and funders.
Sustainability
- Net-Zero / Net-Zero Energy
- A building or community that produces at least as much renewable energy as it consumes over a year, typically through efficiency plus on-site generation such as solar. It is an aspiration that guides the foundation’s design goals.
- Water Rights
- The legal right to use a specific amount of water from a source. In Colorado, water is governed by prior-appropriation law, so any community’s water use must be secured through the state’s established water-rights system.
- Passive House
- A rigorous building standard focused on drastically reducing energy use through airtight construction, superior insulation, and heat recovery. It is one design approach that supports the foundation’s energy-efficiency goals.