Content excerpted and adapted from a Frey Foundation press release. Read the full release.

The Frey Foundation has announced the recipient of its first-ever Housing Innovation Award.

As CMF reported in October, Frey Foundation was seeking innovative ideas to relieve the cost burden of housing for ALICE (asset limited, income constrained, employed) families in Kent County. Individuals are considered ALICE when they live above the federal poverty line, therefore often aren’t eligible for aid, yet still can’t afford the basics such as housing.

The foundation’s open call for ideas asked for an innovative, actionable plan, concept or collaboration that can reduce the number of ALICE families spending more than 30 percent of their monthly income on housing.

The winning proposal was submitted by Inner City Christian Federation (ICCF).

ICCF will use the $150,000 award to create a Community Homes Land Trust and support structures designed to create and preserve affordable homeownership and rental opportunities specifically for families who are considered ALICE in Kent County.

In the planned Community Homes Land Trust model, homes are sold at below-market prices to income-qualified households who cannot afford to buy on the open market. Upon resale, any home in the Land Trust remains affordable by utilizing a portion of the appreciation to reduce the purchase price for the next owner, preserving affordability from generation to generation.

“A diverse, cross-sector selection committee unanimously recommended ICCF’s Housing Innovation proposal for its potential for impact, scale, and ICCF’s intent to share the Community Homes Land Trust framework with other housing organizations whose beneficiaries could be served by this tool. Their proposal included well-vetted ideas designed to preserve affordability and access over the long-term,” Lynne Ferrell, program director at the Frey Foundation and CMF trustee said.

“Our trustees are committed to being at the table and playing a meaningful role in moving the needle on housing insecurity on behalf of ALICE families in West and Northern Michigan,” Ellie Frey Zagel, Frey Foundation trustee and chair of the initiative said. “This work can’t be done by one funder or in silos. We are committed to learning and listening for emerging opportunities and are willing to try new approaches to make an impact on those we seek to serve.”

This is the foundation’s first venture into “prize philanthropy,” a grantmaking tool designed to spark innovation and engagement for community impact.

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