ADFA Awards $7.6 Million in Federal HOME Program Grants to Build More Than 79 Homes for Low-Income Families in Arkansas
FOR IMMEDIATE RELEASE
ADFA Awards $7.6 Million in Federal HOME Program Grants to Build
More Than 79 Homes for Low-Income Families in Arkansas
LITTLE ROCK, June 20, 1017 - More than 79 families in Arkansas will be one step closer to owning a home with the help of $7.6 million in Federal HOME Investment Partnerships Program (HOME) grants. The funds were awarded on June 15, 2017, by the Arkansas Development Finance Authority (ADFA) Board of Directors to seven nonprofit organizations, including six Habitat for Humanity affiliates. The awards were inspired by Governor Asa Hutchinson’s call to state agencies to engage and partner with faith based organizations.
“These funds are about offering individuals and families in Arkansas the ability to roll up their sleeves and change their lives,” said Governor Asa Hutchinson. “We want to see people do well and this is a great way to partner with low-income families who want to be successful homeowners.”
The federally funded HOME program provides a financing source for several eligible activities that increase the supply of affordable housing for low and very low income persons. Eligible activities include: assistance to homebuyers and homeowners, the new construction or rehabilitation of rental housing, and tenant-based rental assistance (TBRA).
“Habitat for Humanity and ADFA share a common mission that Includes preserving and building affordable homes and communities,” said ADFA President Aaron Burkes. “We look forward to joining with Habitat and others to help hardworking Arkansas families build equity through homeownership.”
Individuals interested in benefiting from these funds should contact one of the following nonprofit organizations directly:
ADFA’s Single Family Housing Division provides lending programs targeted to the needs of low-to-moderate income Arkansans. ADFA works with community lenders statewide to offer affordable first mortgage loans, downpayment assistance programs and the Mortgage Credit Certificate first time homebuyer federal tax credit.
Public Information Officer
Posted on Tue, June 20, 2017
by Derrick Rose filed under