A number of federal and local grants exists for the purpose of establishing a group home for teens. A grant is a sum of money allocated by the government for a specific purpose. It is not a loan and does not have to be paid back. It may, however, have limitations as to how it can be spent.Continue Reading
There are several different types of grants. The federal government has housing grants set aside for the specific purpose of funding teen group homes. These are called "block grants" because this money is specifically for developing the group home and cannot be used for any other purpose, notes Austin Berry for the Houston Chronicle. These types of grants are typically given to anyone who can establish that the home meets a predetermined set of criteria. A project grant may provide funding for specific aspects of a group home rather than umbrella financing. Therefore, it may be possible to obtain a project grant from which the funds can be used to construct a group home for teens but not be used for operating costs.
To fully fund a group home for teens, it may be necessary to apply for several different types of grants. When applying for a grant, it is very important to have a clear and concise business plan that details exactly what the funds are needed for and how the money is to be spent.Learn more about Social Services