Austin Homeownership Fund
The Austin Homeownership Fund is a direct cash investment program in which UpTogether, in partnership with Living Cities and the City of Austin, invested a total of roughly $7,600 per household over six months in 20 Austin-area families working toward or maintaining homeownership through the City of Austin Community Land Trust (ACLT). Funds were unrestricted cash with no repayment requirement, primarily supporting BIPOC individuals and families with costs like inspections, closing costs, insurance, utility setup, and initial homeownership expenses. The fund was made possible by a Living Cities "Closing the Gaps Network" grant (Wells Fargo Foundation and Citi Foundation) aimed at closing racial homeownership gaps.
BIPOC, Homeownership, Community Land Trust, Wealth Building, Unrestricted Cash
Headquarters
- Organization Name
- UpTogether
- City
- Austin
- State / Province
- Texas
- Country
- United States
Contact
- Website
- https://www.uptogether.org/
- Social media links
Status & Funding
- Organization status
- Active
- Program status
- Inactive
- Number of recipients
- 20
- Funding type
- Philanthropic, Corporate
Benefits
- Currency Type
- Fiat
- Currency
- USD
- Total Amount
- 7,600 USD
- Avg. Per Month
- 1,266.67 USD
- Payment frequency
- Variable
- How long the program lasts
- 6 months
- Distribution Type
- Check, Digital/Virtual payment card, Direct deposit, Apple Pay, Google Pay, Samsung Pay
- Benefit details
Total investment of approximately $7,600 per household disbursed over six months: an initial payment of $1,350, followed by five monthly payments of $1,250. Funds are unrestricted cash with no repayment obligation, distributed via UpTogether's standard disbursement options (check, virtual/physical payment card, direct deposit, or mobile wallets). Funds were intended to help cover costs associated with purchasing or maintaining a home through the Austin Community Land Trust, such as closing costs, inspections, insurance, and utility setup.
Eligibility
Overview
- Eligibility details
Participants had to be enrolled in the City of Austin Community Land Trust (ACLT) program and working toward or seeking to maintain homeownership. The fund was designed primarily to support BIPOC (Black, Indigenous, and people of color) individuals and families. ACLT program eligibility generally requires household income at or below 80% of the HUD-calculated Area Median Family Income and first-time homebuyer status (or equivalent, per HOME Final Rule definitions).
Demographics
- Race / ethnicity targets
- BIPOC (Black, Indigenous, and People of Color) — primary target, per Living Cities/UpTogether program description
Housing
- Housing status
- Renter, Homeowner
Geography
- Countries covered
- United States
- Cities covered
- Austin
- Counties covered
- Travis
- Residency of Target Geography
- Yes
Participation
- Research / data sharing
- Optional
- Complementary program enrollment required
- City of Austin Community Land Trust (ACLT) homeownership program
- Research / participation requirements
Participants were invited to share member stories and could opt into surveys/case studies (e.g., UpTogether member stories, Living Cities reporting) documenting program impact, but this does not appear to be a formal mandatory research study with an academic evaluator.
Application Process
- How to apply
Not an open public application; participants were identified through enrollment in the City of Austin Community Land Trust (ACLT) program and selected/referred by UpTogether and City of Austin partners for households actively pursuing or maintaining ACLT homeownership.
- Selection process
Households already enrolled in or approved for the City of Austin Community Land Trust homebuying program were identified by UpTogether and City partners (City of Austin Equity Office, Housing Department) as eligible for the cash investment; selection was not via general public lottery or open application.
