Revitalization fund in Arizona

Building in Tucson
Courtesy Arizona Daily Star

Habitat Tucson’s new Housing Opportunities Loan Fund is off to a good start with a $100,000 investment from the Tucson Housing Foundation Inc. That money is the first of what Habitat Tucson hopes will be many investments by local businesses and organizations.

The fund aims to provide zero-interest loans to low-income families who own older homes in need of repairs.

“There are many good reasons for establishing this loan fund,” says Danny Knee, Habitat Tucson’s interim executive director. “Now, investors interested in neighborhood revitalization through the creation of safer homes have one more way to help make that happen.”

Seventy-eight-year-old Anna Cox was one of the first beneficiaries of the fund; she used the loan to replace the leaking roof on her home. “I could never have done this myself. Now I don’t have to sit pots and pans all over the house,” she says. “It made my house look better than when it was brand new.”