Central Valley Habitat for Humanity receives $500k loan for affordable housing
The Central Valley Habitat for Humanity (CVH) was awarded a $500k forgivable loan to provide more affordable housing for families in the Valley.
This loan was announced by Governor Ralph Northam as part of the "Affordable and Special Needs Housing Loans" initiative which focuses on affordable new construction and rehabilitation housing projects.
“The Affordable and Special Needs Housing program fills gaps in financing to make possible the creation and preservation of affordable housing for low-income Virginians,” said Secretary of Commerce and Trade Brian Ball. “Virginia continues to put affordable housing at the forefront of its efforts to create a stronger Commonwealth for all.”
David Wenger, Executive Director for CVH said Habitat is currently building five homes, and this money will fund nearly 60 percent of those projects.
"We applied and we're fortunate enough to receive this recognition, but also the funding which is most important to help our families," said Wenger. "The board has been working to build more homes because we have families in need and we're working to meet their needs."
According to a press release from the governor's office, 17 applications were received, requesting more than $14.7 million.