Assistance for Affordable Homeownership: $50,000 Grant Offered by CAHEC's Open Doors Homeownership Initiative

    RALEIGH, NC, March 19, 2024 /24-7PressRelease/ -- Annually, CAHEC extends the Open Doors Homeownership Grant to nonprofit organizations that are actively involved in building affordable housing for sale for low-income households within areas CAHEC serves. Recognizing that nonprofit developers frequently face expenses not initially factored into their development budgets, CAHEC has designed this annual grant to provide supplementary funding for the costs associated with developing housing for sale to low-income households.

This year, two $25,000 grants are available to be awarded. To be eligible for consideration, an affordable housing development must be located 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 accepts applications annually from March to July 31. Eligible applications are scored via a competitive review process and awarded upon the impact and quality of the proposals.

Stefanie Lee, Community Relations Manager at CAHEC, conveyed her excitement about advancing the mission of two organizations dedicated to developing for-sale affordable housing. "We're thrilled to announce we'll be awarding two larger grant amounts this year, which is something we've never done before," stated Lee. "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," stated Lee.

For more information on grant eligibility and the online application process, please visit our website.

CAHEC is a community investment organization that strengthens communities by providing affordable housing and supportive service initiatives to residents in the Southeast and Mid-Atlantic regions. CAHEC engages in diverse product areas, including low-income housing tax credits, historic tax credits, new markets tax credits, and renewable energy credits. Additionally, CAHEC offers 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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