DECATUR, GA - On February 22, 2021, the US Treasury Department announced through the CDFI Fund that Community Housing Capital (CHC) was among 27 Community Development Financial Institutions (CDFIs) to receive an award from the 2020 Capital Magnet Fund (CMF). The CMF awards competitive grants to CDFIs and qualified nonprofit housing organizations to develop, rehabilitate, preserve, and purchase affordable housing, particularly housing targeted to low-, very low-, and extremely low-income families.
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To aid in the development of the affordable housing that is so essential across the U.S., CHC sponsors several applications on behalf of its borrowers to receive an FHLBank Atlanta AHP award for up to $500,000 for the acquisition, construction, rehabilitation, and development of affordable rental and ownership housing. In November 2020, four CHC borrowers received a total of $1.9 million in awards through the AHP program. Besides sponsoring borrower applications to FHLBAtlanta, CHC also provides loans to each organization to facilitate development.
Click on any of the stories below to learn how these nonprofit developers have approached their community housing needs in different ways.
Community Housing Capital has been a long-time participant and sponsor of the annual Opportunity Finance Network (OFN) Conference. Our excitement and enthusiasm for this years’ first virtual conference was well-founded with inspiring and informative discussions about pressing issues, the post-election political landscape impacting CDFIs, and thought leadership around the path to racial justice. With over 350 affordable housing professionals attending via Zoom, the 4-day event included a series of videos featuring CDFI borrowers impacted by the capital invested by CDFIs. We are so proud that one of Community Housing Capital’s long-time customers, Charlotte Mecklenburg Housing Partnership, Charlotte, NC, was featured in this years’ OFN conference. Learn how CDFI’s Finance Justice in this OFN Conference video “Meet a CDFI Borrower.”
For access to other conference videos, including Welcome remarks, panel discussions, and more “Meet a CDFI Borrower” videos, click here.
Community Housing Capital (CHC) is proud to have been selected to received $650,000 from the U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund). This highly competitive award is presented to CDFI’s with highly-effective programs offering affordable financial products and services that meet the unique needs of economically underserved communities. CHC will use its award to increase lending activity in low-income and economically distressed communities across the nation and to facilitate the work of the nonprofit affordable housing developers of the NeighborWorks network. These organizations acquire and stabilize affordable multifamily rental housing and create and preserve single-family housing for low-income families and seniors.
Congratulations to the 230 CDFIs that received $127 million for the FY 2020 Base Financial Assistance (FA) Award. The FY 2020 FA Awards focused on CDFIs that demonstrated the extent to which their activities will expand or provide new products and services. CHC also received $565,000 from the CDFI Fund in FY 2019.
View the CDFI Fund FY 2020 Award Book
View the CDFI Fund Press Release
View our Digital 20-Year Anniversary Report
We are excited to share Community Housing Capital’s 20-Year Anniversary Report, which showcases two decades of investment and social impact. We dedicate this report to our investors who have fueled this work and the NeighborWorks® organizations that put their minds and hearts into closing the affordable housing gap. This report features some of their stories, social impact highlights from FY 2016-19, and the foundation laid for future innovation.
While we cannot celebrate in person with you, our investors, customers, and friends, we hope our collective impact will inspire you.
View our Digital Anniversary Report
View the Press Release
Community Housing Capital (CHC), a national nonprofit CDFI, is proud to announce that the U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) awarded $565,000 to CHC as part of the FY 2019 Financial Assistance (FA) Awards.
Congratulations to the 261 CDFIs who received FY 2019 FA awards for a combined total of $132,005,000.
The FA award was designed to allow CDFIs to sustain and expand their financial products. CHC will use the grant to expand its existing loan fund to facilitate the work of the nonprofit affordable housing developers of the NeighborWorks network. These organizations acquire and stabilize affordable multifamily rental housing and create and preserve single-family housing for low-income families and seniors.
Most recently, CHC was awarded $3,750,000 from the CDFI Fund's FY 2016 Capital Magnet Fund to facilitate the development of affordable housing across the nation. Together, these awards enable CHC to help more organizations close an affordability gap that can be so devastating to hard-working individuals and families.
As a member of the Federal Home Loan Bank Atlanta (FHLBAtlanta), Community Housing Capital (CHC) sponsors several applications each year on behalf of its borrowers to receive an FHLB Atlanta (FHLBAtlanta) AHP award for up to $500,000 for the acquisition, construction, rehabilitation, and development of affordable rental and ownership housing. In November 2019, two CHC borrowers each received a $500,000 award through the AHP program: Community HousingWorks, San Diego, and Avesta Housing with Community Concepts, Inc., in Lewiston, Maine. In addition to sponsoring borrower applications to FHLBAtlanta, CHC also provides loans to each organization to facilitate development.
"Beyond Units and AMI: Expanding the Impact Discussion in the Affordable Housing Sector" CHC is proud to participate in the panel presentation "Beyond Units and AMI: Expanding the Impact Discussion in the Affordable Housing Sector" on Monday, October 21st from 4:15pm to 5:30pm at Opportunity Finance Network's 2019 Conference to be held in Washington, D.C. In this joint panel discussion, CHC staff members, Angie Waddell, Director of Impact and Loan Admin Officer, and Debra Turner, SVP/Chief Loan Administrator will join with Jessica Pedersen from Pacific Community Ventures, Kevin Fanfoni, Calvert Impact Capital, Rashel Tripett, Partners for the Common Good, and Chris Krehmeyer, Beyond Housing (and CHC board member) in a facilitated roundtable where CDFIs, participants, affordable housing developers, and Impact Measurement and Management (IMM) experts will discuss the opportunity and challenges associated with highlighting the diverse impacts associated with affordable housing and developing the right accountability systems to assess progress.
"Show me the (Single Family) Money: Specific Strategies to Attract Capital for Single-Family Development" Cindy Holler, President, and CEO of Community Housing Capital will join the National Community Stabilization Trust (NCST) and other CDFI panelists to speak about how mission-oriented single-family developers often struggle to obtain capital to fund the acquisition and rehab of distressed residential properties. Learn how CDFIs can meet this need with access to affordable, flexible financing. This round table discussion will explore capital acquisition strategies including accessing debt and equity sources along with specific examples. Learn how to put together a "credit package' of various documents to improve your chances of getting capital from a lender and explore issues of racial equity in making capital more accessible for neighborhoods of color. Don't miss your chance to participate in table breakout conversations with these experts so you can ask deeper questions and review examples of successful collaborations in this space.
The lack of affordable housing in the U.S. is one of the greatest challenges of our time. The problem is deeply complex and the hardship touches every community across the nation. There are thousands of people working every day to mitigate and solve this crisis and they do this because they believe passionately that everyone deserves a safe, affordable place to call home. Nonprofit housing development organizations and governmental entities work tirelessly to improve housing opportunities and they do this without fanfare or respite.
As a Community Development Financial Institution, Community Housing Capital serves the NeighborWorks America network of nearly 250 independent, nonprofit organizations that implement comprehensive approaches to affordable housing and community development. We recently attended a NeighborWorks Training Institute in New Orleans that provided us an opportunity to shine a light on just a few individuals that represent the #everydayheroesofaffordablehousing.
We hope this campaign inspires other housing organizations to shine a light of recognition on the many professionals that work to improve housing conditions in their communities.
Please join Community Housing Capital (CHC) in congratulating Jack Gilbert, CHC's founding president and chief executive officer for receiving the National NeighborWorks® Association (NNA) Richard H. Stallings Lifetime Achievement Award on March 13, 2019, at the NeighborWorks Executive Symposium in Washington, DC. This prestigious, national award is peer nominated in recognition of a history of outstanding accomplishments and contributions in the affordable housing industry and the NeighborWorks Network.