Major funding will help build more than 600 homes in partnership with low-income individuals and families
ATLANTA (Feb. 26, 2010) – Habitat for Humanity International will receive $11,239,741 in “sweat equity” grants to help build at least 617 homes in partnership with low-income individuals and families, the U.S. Department of Housing and Urban Development announced Wednesday.
Funded by HUD’s Self-Help Homeownership Opportunity Program, the grants—along with labor contributed by homeowners and community volunteers—will significantly reduce the cost of owning a home.
“In this struggling economy, we are seeking every opportunity to help more families purchase affordable housing,” said Jonathan Reckford, chief executive officer of Habitat for Humanity International. “Funding from SHOP grants has enabled Habitat affiliates to serve thousands of families over the years, and this funding is typically leveraged with more than seven dollars in private funding raised for every dollar of SHOP grant money provided to Habitat. This is great news for many communities.”
HUD’s SHOP encourages the development of housing using the sweat equity model and community-building efforts upon which Habitat is based. Habitat for Humanity affiliates will use SHOP funds to purchase land and make infrastructure improvements, primarily in support of new construction.
Habitat affiliates will compete for the SHOP funds on a national basis and will build single-family detached dwellings, multi-family housing and condominiums using the grants. Each affiliate has design flexibility to meet the needs of local communities, and all homeowners will pay affordable mortgages.
Completed housing units will be sold to homebuyers who contribute a significant amount of sweat equity toward the construction of their home, in addition to volunteer labor. Under HUD guidelines, single-adult households will be required to volunteer a minimum of 50 construction hours, while multi-adult households must complete a minimum of 100 sweat equity hours. At least 617 housing units will be built using SHOP funds.
Habitat for Humanity International has a long history of working with HUD to provide affordable homes. From 1996 to 2009, HFHI received more than $160 million in SHOP funds to help construct approximately 13,000 Habitat houses.
About Habitat for Humanity International
Habitat for Humanity International is an ecumenical Christian ministry that welcomes to its work all people dedicated to the cause of eliminating poverty housing. Since its founding in 1976, Habitat has built, rehabilitated, repaired or improved more than 350,000 houses worldwide, providing simple, decent and affordable shelter for more than 1.75 million people. For more information, or to donate or volunteer, visit www.habitat.org .
About the Department of Housing and Urban Development
HUD is the nation’s housing agency committed to increasing homeownership, particularly among minorities; creating affordable housing opportunities for low-income Americans; and supporting the homeless, elderly, people with disabilities and people living with AIDS. The department also promotes economic and community development as well as enforces the nation’s fair housing laws. More information about HUD and its programs is available at www.hud.gov .