State Habitat receives THDA grant

Tuesday, November 18, 2014

Habitat for Humanity of Tennessee received a $500,000 grant from Tennessee Housing Development Agency (THDA) toward the construction of 30 homes statewide.

The state Habitat supports the 50 Habitat affiliates serving 62 counties in Tennessee, including Bedford Builds Habitat for Humanity.

"We are extremely grateful for THDA's leadership in creating the Housing Trust Fund and for their strong support of our program," said Colleen Dudley, executive director of Habitat for Humanity of Tennessee. "We are able to take these funds and match them with $2.8 million Habitat affiliates raise locally through donations from individuals, churches, foundations and businesses to complete these homes."

Upon the successful completion of this statewide grant which will be competed in June of 2015, an estimated 109 children and adults will be living in a new, quality built energy efficient home they own, while making monthly home loan payments to Habitat that are then used to build even more homes.*

Habitat for Humanity works to end the poverty cycle through the creation of affordable housing. Habitat houses are not given away; they are sold to partner families at no profit and with a zero-interest mortgage. In addition to a down payment, monthly mortgage payments, and mandatory homebuyer education classes, partner families invest hundreds of hours of their own labor -- sweat equity -- into building their Habitat home and the homes of others. Families are selected based on need, willingness to partner and ability to pay a mortgage. Homeowner mortgage payments are recycled through a "Fund for Humanity," which is used to build future Habitat homes.

Every 5 1/2 minutes, Habitat for Humanity worldwide serves a family in need of decent housing. Since 1976, Habitat for Humanity has worked in partnership with families to build or repair more than 800,000 houses and serve more than 4 million people worldwide. Habitat for Humanity is served by its 1,500 local affiliates in the United States and more than 70 national organizations around the world.

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