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Habitat News

Memphis Habitat Shares in $500K THDA Grant

MEMPHIS, TENN. (Dec. 17, 2019) – Habitat for Humanity of Greater Memphis today announced it will receive $77,500 in grant funding by Habitat for Humanity of Tennessee toward five new homes built this fall in the Castalia Heights neighborhood.

The funding comes as part of a $500,000 grant from the Tennessee Housing Development Agency. Memphis Habitat and its sister organizations throughout the state will apply the grant toward the construction of 30 new homes for qualified first-time homebuyers.

THDA allocates the funds to Habitat for Humanity of Tennessee, and local Habitat chapters could apply for $15,500 per home build. When construction is complete in June 2020, more than 100 children and adults will be living in affordable, energy-efficient homes built in part from this funding.

“THDA is a strong statewide partner helping us make homeownership a reality for more Tennesseans,” said Colleen Dudley, executive director of Habitat for Humanity of Tennessee. “This grant provides us with a solid foundation to spur our larger fundraising efforts, which will reach over $4 million from individuals, churches, foundations and businesses to complete these builds.”

Funding for the 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.

“We share Habitat’s mission and its passion for creating new homeownership opportunities for Tennessee families, so it’s a very natural partnership,” said THDA Executive Director Ralph M. Perrey. “We’re always confident that Habitat is going to put our funding to good use, and I’m sure more than a few THDA staffers will be among the volunteers at build sites across the state.”

In addition to supporting Habitat for Humanity with grant funding, THDA also provides zero-interest home loans to qualified Habitat homeowners. Habitat homeowners help build their own homes alongside volunteers and pay an affordable mortgage that, in turn, helps fund future Habitat builds.

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, rehabilitation projects and Aging in Place accessibility and mobility modifications for homeowners age 60 and older. Since 1983, Memphis Habitat has helped more 500 first-time homebuyers secure affordable mortgages and completed rehabilitation and home modification projects in partnership with more than 650 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 41 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 at 10:23 AM
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