CAHEC Awards $50,000 Towards the Development of For-Sale Affordable Housing

RALEIGH, NC, November 18, 2022 /24-7PressRelease/ — Since 2004, CAHEC has offered an Open Doors, Homeownership Grant, to assist nonprofit organizations that develop for-sale affordable housing within our footprint. To date, CAHEC has awarded $760,000 towards this homeownership initiative to help provide housing to families earning 80 percent or less of the area median income. This year, our focus area for funding was to assist nonprofit developers in their weatherization efforts. As our grant readers reviewed the applications, we evaluated how each organization utilized weatherization to address resident needs, the positive impact the work would have on the community and the long-term results of their efforts. We are excited to announce the recipients of CAHEC’s 2022 Open Doors Homeownership Grant:

$25,000 – Southeastern Housing and Community Development
Southeastern Housing and Community Development applied on behalf of the Lowcountry Rural Repair and Weatherization Project, which is a collaboration between four South Carolina housing agencies. The group works collectively to demonstrate the disparity in rural and urban housing resource allocation and then generates resources and solutions through innovation and advocacy. Their next project will benefit 50 low-income and predominantly elderly households over the next two years. CAHEC’s grant funding will award each homeowner a $500 gap weatherization grant, which will complement other funding received from South Carolina Housing’s Emergency Repair Program and leverage additional assistance from their local energy utility.

$15,000 – Habitat for Humanity of Seminole County and Greater Apopka
For the past 30 years, Habitat for Humanity of Seminole County and Greater Apopka has brought people together to build homes and hope for individuals and families with low incomes, most recently focusing on helping weatherize eight homes in Florida’s historic Goldsboro community. Originally founded as Florida’s second African American incorporated town and later forcibly annexed, this economically disadvantaged community is undergoing a long overdue revitalization. These Habitat homes will be weatherized from the attic to the ground floor throughout the construction process with efforts that equal or surpass those seen in housing in wealthier communities. CAHEC’s grant funds will be allocated to the purchase of insulated, glazed double-paned windows, and heavy-duty weatherstripping.

$10,000 – Fort Lauderdale Community Development Corporation
Since 1988, Fort Lauderdale Community Development Corporation (FLCDC) has been developing and sustaining affordable housing, promoting economic development, and assuring that low-income families in Fort Lauderdale have access to housing. Over the next two years, FLCDC plans to enhance the basic landscape package for homes and ensure the energy-efficient standards for all appliances and equipment evolves with industry standards. CAHEC grant funds will be used toward the cost of hurricane impact-resistant windows and doors, tankless water heaters, energy-efficient roof tiles, energy star-rated appliances, and LED interior and exterior lighting. Additionally, they will use a portion of the funding to enhance the minimum required landscape package by adding more trees and drought-resistant materials.

Stefanie Lee, Community Relations Specialist at CAHEC, is responsible for managing the grant. She stated that “The Open Doors Homeownership Grant is an opportunity that our entire staff gets excited about. Our day-to-day work focuses so heavily on providing safe and affordable housing, but it’s usually in the form of an apartment. With this grant, we’re able to offer the possibility of homeownership to so many deserving families, and it’s extremely rewarding.”

CAHEC ranks as one of the largest nonprofit equity syndicators in the U.S. They aim to provide sustainable communities by offering housing and life-changing opportunities to their residents by investing in qualified tax credit products throughout the Southeast and mid-Atlantic states. Their products and services include low-income housing tax credits, historic tax credits, new markets tax credits, renewable energy credits, loan programs, community investments, affordable housing development and preservation, and property management. To learn more about their contributions to affordable housing and surrounding communities, visit CAHEC’s website.

For the original version of this press release, please visit here