Community Housing Capital Wins $2,500,000 Competitive Grant Award from the 2020 Capital Magnet Fund
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Grant to fund pilot lending pool in Ohio where thousands of homes are at risk of becoming unaffordable without intervention
Through this partnership we will ensure that low-income Ohioans have access to an affordable home, the foundation of a thriving family. DECATUR, Ga. (PRWEB) March 11, 2021 On February 22, 2021, the US Treasury Department announced through the CDFI Fund that Community Housing Capital (CHC) was among 27 Community Development Financial Institutions (CDFIs) to receive an award from the 2020 Capital Magnet Fund (CMF). The CMF awards competitive grants to CDFIs and qualified nonprofit housing organizations to develop, rehabilitate, preserve, and purchase affordable housing, particularly housing targeted to low-, very low-, and extremely low-income families.
Improve Services for Residents
Proposal
Drawing on lessons learned from existing programs and partnerships outside of HUD, develop and fund a new strategy to provide support services to public housing residents and other rental assistance recipients.
Background
Given households’ low average income and where developments are located, public housing residents often lack financial resources for or easy access to the same services available to people with higher incomes or living in resource-rich neighborhoods. By better integrating the delivery of services through public housing and other rental assistance programs, people living in public housing could benefit from a broad range of supports to enable seniors to age in place, help people live with chronic health problems, assist individuals in successfully reentering the community from prison and jail, provide resources for children and parents, and improve quality of life in other ways.
Imagine you are one of the millions of Americans struggling to make ends meet in the midst of this pandemic. Perhaps you are just able to support your family on unemployment, but only because you are lucky enough to live in affordable housing. Now, imagine learning that even this reliable housing safety net could disappear in order to line the pockets of corporate America.
Stats Show Affordable Housing Doesn t Depress Neighboring Prices msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
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and last updated 2021-03-04 20:56:55-05
Valley non-profit UMOM is known for shelter, supportive and rehousing services for families experiencing homelessness, but for the past several years it has also branched off into real estate development of affordable housing.
One of its latest builds, Bethany Crossing, is located at Bethany Home Road and 69
th Avenue in Glendale. When complete it will provide subsidized two and three-bedroom apartments for 72 families.
âFamilies who will move into Bethany Crossing, they are not homeless, but they are struggling to make ends meet,â said Jackson Fonder CEO of UMOM.