HAC RECEIVES $794,500 CDFI FUND GRANT TO FACILITATE THE DEVELOPMENT AND PRESERVATION OF AFFORDABLE HOUSING IN RURAL AMERICA

摘要

The Housing Assistance Council (HAC), a nonprofit that supports the development of rural low-income housing, has been awarded a $794,500 grant from the Community Development Financial Institutions (CDFI) Fund to develop and preserve affordable housing throughout the rural U.S. HAC will use its award to make loans to local nonprofit housing developers in rural parts of the U.S. to create or preserve over 110 rental homes for low-income individuals and families. Half of the units will be affordable for residents with incomes below 50% of the median income in their areas. In addition to loans, HAC also provides specialized assistance that supports emerging and established nonprofit developers working in rural places. These developers are often smaller and have fewer resources than their counterparts in cities, so HAC helps increase their organizational and financial capacity to address housing needs in their communities.