Congresswoman Matsui Announces $750,000 for Low-Income Housing Projects in Sacramento

SACRAMENTO, CA – August 20, 2010 – (RealEstateRama) — Today, Congresswoman Doris Matsui (D-Sacramento) announced that Sacramento Neighborhood Housing Services has received $750,000 to help provide financing for low-income housing projects in Sacramento.  Awarded through the Treasury Department’s Community Development Financial Institution Program (CDFI), this funding is awarded to nonprofit certified community development financial institutions that serve low-income people and communities that lack adequate access to affordable financial products and services.

“Funding programs like CDFI help develop our communities by providing for the housing needs for some of our most vulnerable neighbors,” said Congresswoman Matsui.  “With this funding, Sacramento Neighborhood Housing Services will help provide financing for housing projects in Sacramento and get people into stable homes.”

“We are very happy to have been awarded this funding,” said Pam Canada, CEO, NeighborWorks Sacramento.  “It was the largest award given through the CDFI program and will provide the needed funding to finance low-income housing projects around Sacramento.”

The CDFI will award a total of $104,933,762 million to 180 institutions nationwide.  Today’s announcement comes as the result of a competitive grant application process, and was made possible through the CDFI’s Fiscal Year 2010 Congressional appropriation.

CONTACT:
MARA LEE
(202) 225-7163