Grants strengthen affordable housing organizations and rebuilding efforts in Gulf Coast
Enterprise Community Partners, Inc. has awarded more than $700,000 to 15 Louisiana and Mississippi nonprofits
NEW ORLEANS, Sept. 19, 2013
NEW ORLEANS, Sept. 19, 2013 /PRNewswire/ -- Enterprise Community Partners, Inc. (Enterprise) recently awarded more than $700,000 in grants to 15 nonprofit affordable housing organizations in Louisiana and Mississippi to build organizational capacity and long-term financial sustainability to develop high quality affordable housing.
The grants are made possible through the U.S. Department of Housing and Urban Development's (HUD) Capacity Building for Community Development (Section 4) program. The funding assists community development corporations (CDCs) in strengthening organizational structure, program delivery systems and delivery of affordable housing. Every dollar of public funding awarded is matched with at least $3 in private funding from individuals, foundations or corporations.
"This funding is great news for Louisianians, and I am thankful for Enterprise Community Partners' continued investment in our state. It is vital to support programs that work to develop affordable homes and provide long-term financial sustainability for our communities," said Sen. Mary Landrieu. "This funding is needed to maintain critical community development infrastructure and ensure that community-based development organizations have the working capital to meet today's economic challenges."
"Enterprise is proud to partner with these organizations who are leading the rebuilding of neighborhoods throughout this region. These grants help strengthen Gulf Coast nonprofits so that their work can continue for years to come," noted Monica Gonzalez, Gulf Coast program director, Enterprise.
Grants will support the development of 700 affordable homes along the Louisiana and Mississippi Gulf Coast. Grants were awarded to:
"The flexibility of the funding that Enterprise offers is extremely valuable to Jericho Road because while there are various funding sources available for the 'bricks and mortar' of housing development, there is very little support for the equally important staffing and human-power component of affordable homebuilding," said Nicole Barnes, executive director, Jericho Road Episcopal Housing Initiative.
Enterprise works with partners nationwide to build opportunity. We create and advocate for affordable homes in thriving communities linked to jobs, good schools, health care and transportation. Over more than 30 years, Enterprise has created 300,000 homes, invested nearly $14 billion and touched millions of lives. In the eight years since Hurricane Katrina, Enterprise has invested more than $240 million in grants, loans and equity to support the development of over 7,500 homes in the Gulf region. Join us at www.EnterpriseCommunity.org.