In its November 2021 issue of the Journal of Tax Credits, Novogradac interviewed several of the nine first-time NMTC allocatees of a New Market Tax Credit Award for CY 2020. Community Housing Capital's CEO, Cindy Holler and Chief Lending Officer, Dana Chestnut were able to highlight the NeighborWorks network and how CHC's $30 million award will impact communities nationwide. Read the Novogradac article.
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Community Housing Capital (CHC) is proud to announce its successful first-time application and allocation of $30 million in New Markets Tax Credits (NMTC) from the U.S. Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund. As a qualified CDFI and Community Development Entity (CDE), CHC provides flexible and patient loan capital to NeighborWorks® organizations (NWOs) that create affordable housing for low to moderate-income persons and works to stabilize and rebuild disenfranchised communities. "We’re excited that the CDFI Fund saw the potential for our proposal to help satisfy an insatiable demand for affordable for-sale housing. We look forward to using NMTC as a significant tool to address financing gaps presented as our NeighborWorks non-profits work to develop homeownership projects," said Cindy Holler, CEO of Community Housing Capital.
Community Housing Capital (CHC) joins with 865 CDFIs nationwide to receive a Rapid Response Program Award (RRP) from the CDFI fund. With an award announcement by Vice President Kamala Harris at the White House with Treasury Secretary Janet L. Yellen, the RRP acknowledges the important role CDFIs play in lifting up the whole economy in a post-COVID environment. The RRF program is designed to help CDFIs quickly deploy capital in underserved communities hit hardest by the pandemic and CHC is ready to respond.
“We are grateful for this award by the CDFI Fund. CHC will leverage these dollars with private capital and work tirelessly to quickly get it to the more than 200 NeighborWorks® organizations that depend on debt and equity capital to build affordable housing. These organizations will be the real beneficiaries of this fast-tracked award,” said Cindy Holler, President and CEO, Community Housing Capital.
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.
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.