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Nonprofits and self-help housing organizations that encourage homeownership opportunities for hard-working, low-income families and individuals will receive $12.5 million in grants from the U.S. Department of Housing and Urban Development (HUD). Of that amount, Community Frameworks programs in Washington state will receive $3.5 million.
Community Frameworks expects to leverage its SHOP grant for a total of $5,674,672. Funds will be used to complete a minimum of 113 SHOP housing units.
The grants are being funded by HUD’s Self-Help Homeownership Opportunity Program. Eligible national and regional nonprofits and consortia may use the funds to purchase home sites and develop or improve the infrastructure needed to set the stage for sweat equity and volunteer-based homeownership programs for low-income persons and families. Homebuyers must commit to contributing significant amounts of their own sweat equity toward the construction or rehabilitation of their homes.
“The SHOP program provides a unique pathway for first-time homeowners and underserved groups to buy a home,” said HUD Secretary Marcia L. Fudge in a release announcing the grants.
“Owning a home is a way for families to put down roots in a community, plant the seeds of generational wealth, and increase stability,” HUD Northwest regional administrator Margaret Salazar said in the release. “With these funds, at least 113 families in the Northwest will have a home of their own, and that is something to celebrate.”
Organizations in Colorado, Georgia and Washington, D.C. joined Community Frameworks as recipients of the latest $12.5 million in SHOP grants.
Community Frameworks, a 501(c)3 nonprofit organization is based in Washington with offices in Spokane and Bremerton. The organization builds and owns affordable multifamily housing in Spokane and works with other housing-related nonprofits across the state as a development consultant. It also serves as an intermediary for HUD’s Self-Help Homeownership Opportunity Program (SHOP), and provides zero-interest, forgivable loans to more than 40 nonprofit organizations and public agencies sponsoring sweat equity homeownership programs in Washington, Oregon, Idaho, and Montana.