WASHINGTON, DC – April 29, 2013 – (RealEstateRama) — The Community Housing Development Corporation (CHDC) of North Richmond will receive $145,720 in federal grants to promote affordable housing and bolster foreclosure counseling, U.S. Rep. George Miller (D-Contra Costa) announced today.
A $100,000 Capital Grant will be used by CHDC for a variety of purposes, including making loans to individuals who are not adequately served by local financial institutions and funding the acquisition and rehabilitation of affordable housing properties. An additional $45,720 grant will be used to provide counseling to families and individuals facing the threat of foreclosure.
“High quality affordable housing services here in the Bay Area is absolutely crucial,” said Miller. “Cities and neighborhoods across California have been hit hard by high unemployment and foreclosures, and I’m glad to see continued federal support to improve our communities and help create jobs in our area.”
The grants were awarded by NeighborWorks America, a public nonprofit organization established by Congress in 1978 to create opportunities for lower-income individuals and families to live affordably in safe, sustainable neighborhoods.
“CHDC is extremely pleased to receive the NeighborWorks funding. The funds will be leveraged with other funding to support an array of services, programs and projects that impact Community & Economic Development; be it affordable housing development, homebuyer assistance, foreclosure intervention and/or loan modification assistance,” added Don Gilmore, Executive Director of CHDC-North Richmond. “Ultimately, these grants will improve the quality of life in the neighborhoods we serve specifically in the City of Richmond-North Richmond and West Contra Costa County.”
CHDC was founded in 1990 by local leaders in North Richmond working to eliminate blight and improve housing opportunities for current and future residents, improve housing opportunities for current and future residents, and create better economic conditions in the city at large. CHDC is a leader in the greater Richmond area in affordable housing services, and is recognized statewide for its asset-building programs for low income households.