Supporting Affordable Homeownership

    RALEIGH, NC, April 21, 2023 /24-7PressRelease/ -- Every year, CAHEC offers an Open Doors Homeownership Grant to nonprofit organizations engaged in developing affordable housing for sale to low-income households living in the areas CAHEC serves. This year, the focus area for our funding is to assist nonprofit developers in making universal design adaptations for elderly and or special needs households. For this grant application, universal design includes but is not limited to any accessibility modification, provided those modifications meet all relevant codes and guidelines. For 2023, CAHEC is offering three grants: one at $25,000, one at $15,000, and one at $10,000.

"We are excited to offer this grant to help further the mission of three nonprofits that serve CAHEC's footprint," explained Stefanie Lee, Community Relations Specialist for CAHEC. "Our funding focus for this year will help so many households with upgrades to help them to age-in-place. It's important to make those much-needed accommodations for those who may not be able to afford it, keeping them safely in their homes for years to come."

To be considered, the targeted home(s) must be within CAHEC's footprint of Alabama, Florida, Georgia, Kentucky, Maryland, Mississippi, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia, Washington D.C., or West Virginia. CAHEC is now accepting applications. Applications must be submitted through CAHEC's online portal by July 31, 2023, to be considered. More information about the application process can be found on our website.

Eligible applications are scored via a competitive review process and awarded based on the impact and quality of the proposals. Please note that only one nonprofit per global/national organization will be selected each year. Organizations receiving an Open Doors Homeownership Grant are required to sign a Grant Agreement. Grant winners must fully execute funds within 24 months of receipt. Organizations awarded a grant are not eligible to re-apply for the Open Doors Homeownership Grant until two additional awarding years have passed.

About CAHEC

CAHEC is a community development organization based in Raleigh, NC, and Columbia, SC, that offers housing and life-changing opportunities to residents throughout its Southeast and Mid-Atlantic footprint. CAHEC's product areas include investing in low-income housing tax credits, historic tax credits, new markets tax credits, and renewable energy credits. CAHEC also provides loan programs, wellness and education initiatives for residents, affordable housing development, and property management services. To learn more about their contributions to affordable housing and surrounding communities, visit CAHEC's website.

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