Local groups receive grant money for low-income housing

Non-profits nationwide will be able to rehabilitate affordable housing units across the country thanks to $35 million in federal grants.

NeighborWorks America awarded the funds to 117 of its local networks and two affiliated corporations - Community Housing Capital and NeighborWorks Capital. The funds will allow those local organizations to finance the maintenance or development of low-income housing units around the country.

The Capital Funding for the Rehabilitation of Affordable Housing grants were created by a law signed last December. They will allow those non-profits to renovate distressed single-family homes and rental units and make them more energy efficient, said NeighborWorks America CEO Ken Wade.

"Thousands of rental and owner-occupied units will be rehabilitated, the majority through the use of state of the art green strategies," he explained.

In Woonsocket, Rhode Island, a vacant mill will be converted into six apartments, said the company. In Tuscon, Arizona, the Primavera Foundation will purchase 10 repossessed homes and make energy-efficient repairs including the installation of insulation, tankless water heaters, and Energy Star appliances. The homes will be re-sold to first-time homebuyers.

Such steps are designed to make it possible for low-income families to move into their first homes.


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