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Habitat News

Memphis Habitat Awarded Grant from Habitat for Humanity of Tennessee, THDA

Memphis Habitat Awarded Grant from
Habitat for Humanity of TN, THDA

Funds support ongoing work in Uptown neighborhood


Habitat for Humanity of Greater Memphis recently received a grant of $46,500 from the Tennessee Housing Development Agency (THDA) via Habitat for Humanity of Tennessee.   

This grant supports the construction of three new homes in Memphis Habitat’s current neighborhood of focus – Uptown Memphis. To date, Memphis Habitat has built 26 new homes in the community; completed critical repairs on more than 80 commercial, historic and single-family properties; led beautification efforts on 13 homes; demolished one vacant property; and managed façade improvements and mural installation on three neighborhood businesses.   

“THDA and Habitat for Humanity of Tennessee have consistently supported Memphis Habitat for many years,” said Dwayne Spencer, executive director of Memphis habitat. “As a result of their support, we’ve been able to construct more than 27 homes in Memphis and Shelby County, enabling those families to buy homes for the first time. It’s because of joint partnerships with local and statewide partners like them that we’re able to maintain our momentum in eliminating blight and creating safe, affordable housing for families in need.”   

Funds received by Memphis Habitat were part of a $500,000 grant Habitat for Humanity of Tennessee received from the THDA Housing Trust Fund to distribute among the 50 Habitat affiliates serving 62 counties to aid in the construction of 30 homes statewide.   

"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 raised locally through donations from individuals, churches, foundations and businesses to complete these homes.”   

Upon the successful completion of this statewide grant in June 2015, an estimated 109 children and adults will be living in new, quality built, energy-efficient homes 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 houses.   

Every 5 ½ minutes, Habitat for Humanity 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.   

About Habitat for Humanity of Greater Memphis
Habitat for Humanity of Greater Memphis is dedicated to eliminating poverty housing by creating sustainable, affordable homeownership opportunities for families in need and providing critical home repairs to low-income homeowners. Since its founding in 1983, Memphis Habitat has served more than 440 families in the Memphis area via its new house-building program, completed 80-plus critical repair projects in the Uptown neighborhood and funded the construction of 64 homes abroad. Habitat houses are built with volunteer labor and sold to partner families, at no profit and with no interest charged. Partner families make a down payment, attend a multi-week homebuyer education course and invest hundreds of hours of “sweat equity” into the construction of their homes and other Habitat homes. For more information, please visit www.MemphisHabitat.com.   

About Tennessee Housing Development Agency
THDA is Tennessee’s housing finance agency, responsible for selling tax-exempt mortgage revenue bonds to offer affordable mortgage loan funds to homebuyers of low and moderate incomes through local lenders, and administering various housing programs targeted to very low-, low- and moderate-income households.  Additionally, THDA uses earnings from the mortgage loan program to fund local housing efforts, including Habitat for Humanity, through its Housing Trust Fund. More information is available at www.thda.org.   

About Habitat for Humanity of Tennessee
Habitat for Humanity of Tennessee, Inc., a nonprofit statewide support organization, strives to provide services related to advocacy, training and resource development to Tennessee’s 50 Habitat for Humanity affiliates who serve 62 counties to build and sell simple, decent, affordable housing in partnership with people in need. In addition to being a centralized resource for Habitat offices around the state, HFHT works toward establishing partnerships with corporations and government agencies to further the mission of the Habitat program in Tennessee. For more information, please visit www.habitattn.org.

Posted by Jessica Hord at 12:29 PM
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