Memphis Habitat Part of $1.5 million THDA Grant
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Habitat News Blog

Memphis Habitat Part of $1.5 million THDA Grant

MEMPHIS, TENN. (June 23, 2022) – Habitat for Humanity of Greater Memphis today announced it will receive $220,000 in grant funding through Habitat for Humanity of Tennessee toward six new homes. The grant is part of a larger allocation to Habitat Tennessee from the Tennessee Housing Development Agency.

“Thanks to the support of partners like THDA, we are able to help more families build strength, stability, self-reliance and shelter,” said Dwayne Spencer, president & CEO of Memphis. “It takes everyone to get us closer to a world where EVERYONE has a decent place to live, and THDA has stepped up to the plate to help our community time and time again.”

THDA, which allocates $500,000 annually to Habitat Tennessee, this year provided a one-time $1 million increase, bringing Habitat Tennessee’s total allocation to $1,500,000. Habitat Tennessee’s THDA Housing Trust Fund award of $1,500,000 will be combined with $485,000 from an anonymous donor for a total of $1,985,000 to help build new homes across the state.

"Our partnership with THDA is fundamental to our continued growth,” said Colleen Dudley, executive director of Habitat Tennessee. “Our Habitat affiliates are able to take these grant funds and spur donations in their local communities. Habitat affiliates will raise an additional $5.5 million in donations from local individuals, churches, foundations and businesses to complete these builds.”

Habitat Tennessee will use these funds to build 50 new homes across Tennessee by providing grants to Habitat affiliates in all three of the state’s grand divisions. Habitat Tennessee provides education, technical assistance, and resources to empower 40 Habitat affiliates that are on the ground making a difference in their local communities serving over 60 counties statewide. Habitat homebuyers help build their own homes alongside volunteers and pay an affordable mortgage that, in turn, helps fund future Habitat builds.

“THDA shares Habitat’s commitment to creating new homeownership opportunities for Tennessee families,” said THDA Executive Director Ralph M. Perrey. “We know that Habitat will put this funding to good use building new homes across the state.”

Funding for the $1,500,000 THDA grant came from the Tennessee Housing Trust Fund (THTF) which receives no state tax dollars but is instead funded by revenue from THDA’s mortgage loan program. Since 2006, THDA has provided more than $75 million in THTF grants. In addition to supporting Habitat for Humanity with grant funding, THDA also provides zero-interest home loans to qualified Habitat homeowners. For more information, visit THDA.org.

 

About Habitat for Humanity of Greater Memphis
Habitat for Humanity of Greater Memphis partners with people in our community to help them build or improve places they can call home through new home construction and Aging in Place accessibility and mobility modifications for homeowners age 60 and older. Since 1983, Memphis Habitat has helped more than 570 homebuyers secure affordable mortgages and completed rehabilitation and home modification projects in partnership with more than 1,000 local homeowners, helping them achieve the independence they need to build a better life for themselves and their families. For more information, visit memphishabitat.com.

About Habitat for Humanity of Tennessee
Habitat for Humanity is propelled by a vision of a world where everyone has a decent place to live. Habitat for Humanity began in Tennessee in 1978 when Appalachia Habitat was created serving Scott and Morgan counties. The Christian housing organization has grown over the past 43 years to include 40 affiliates that serve 65 counties. Tennessee is ranked the 4th largest builder of Habitat for Humanity homes in the country. Through shelter, we empower. To learn more, visit HabitatTN.org.

About the Tennessee Housing Development Agency
The Tennessee Housing Development Agency (THDA) is Tennessee’s housing finance agency, created by the General Assembly in 1973. THDA was created to promote the production of more affordable new housing units for very low, low and moderate income individuals and families in the state, to promote the preservation and rehabilitation of existing housing units for such persons, and to bring greater stability to the residential construction industry and related industries so as to assure a steady flow of production of new housing units. For more information, visit THDA.org.

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Posted by Kim Morrison Stewart at 11:09 AM
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