CAHEC, a prominent community investment organization, has unveiled an exciting development in its efforts to promote affordable homeownership. The organization’s Open Doors Homeownership Initiative, which annually extends grants to nonprofit organizations involved in building affordable housing for sale to low-income households, has doubled its grant funding for the current year.
Stefanie Lee, Community Relations Manager at CAHEC, expressed her enthusiasm for the initiative’s expansion, stating, ‘We’re thrilled to announce we’ll be awarding two larger grant amounts this year, which is something we’ve never done before.’ Lee emphasized the substantial impact this funding will have on the recipient organizations, adding, ‘We recognize the substantial impact this funding will have on these organizations, and we look forward to reviewing all the life-changing projects that will be submitted this year.’
To be eligible for consideration, affordable housing developments must be located within CAHEC’s footprint, which spans Alabama, Florida, Georgia, Kentucky, Maryland, Mississippi, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia, Washington D.C., and West Virginia. Applications are accepted annually from March to July 31, with eligible proposals scored through a competitive review process based on their impact and quality.
CAHEC’s commitment to strengthening communities through affordable housing and supportive service initiatives is evident in its diverse product areas, including low-income housing tax credits, historic tax credits, new markets tax credits, and renewable energy credits. The organization also offers loan programs, wellness and education initiatives for residents, affordable housing development, and property management services. For more information on grant eligibility and the online application process, interested parties can visit CAHEC’s website.
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