HUD: $41M To Boost Affordable Housing
Three national nonprofits will split the money: Habitat for Humanity ($9M), Enterprise Community Partners ($15M) and Local Initiatives Support Corp. ($17M).
WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) announced will make $41 million available for local affordable housing and community development activities. The funding is awarded through HUD’s Capacity Building for Affordable Housing and Community Development program, also known as Section 4.
“Communities can scale up their efforts to provide safe, affordable homes for their residents and meet their community development needs,” says HUD Secretary Marcia L. Fudge.
The Section 4 program enhances the capacity of housing development organizations like Community Development Corporations (CDCs) and Community Housing Development Organizations (CHDOs), to carry out affordable-housing and community-development activities for low- and moderate-income families.
HUD says the funding will total nearly $122 million with the help of 3:1 matching grants.
- Local Initiatives Support Corporation (LISC) will receive $17 million with a 3-to-1 match commitment of $51 million. It will use the money to build capacity of CDCs to meet the housing and economic development needs of people with low and moderate incomes.
- Enterprise Community Partners will receive $15 million with a 3-to-1 match commitment of $45 million. Enterprise’s funds will provide capacity building and technical assistance to address the overarching needs for racial equity in housing – increasing the housing supply and fostering upward mobility in the communities they serve.
- Habitat for Humanity International will receive $9 million with a 3-to-1 match of $27 million. Habitat will increase CDC staff to bolster internal infrastructure, develop a 3-year plan that aims to advance Black homeownership, and support rural housing organizations, among other things.
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