MEMPHIS, TENN. (May 15, 2019) – Habitat for Humanity of Greater Memphis will receive $46,500 in grant funding from Habitat for Humanity of Tennessee toward three new homes built this spring in the Medical District and Uptown neighborhoods.
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 low-income families.
"We are extremely grateful for THDA's partnership and support,” said Colleen Dudley, executive director of Habitat for Humanity of Tennessee. “This THDA grant provides us with a solid foundation to spur our larger fundraising efforts, which will reach $3 million from individuals, churches, foundations and businesses to complete these builds.”
Local Habitat chapters could apply for $15,500 per build in THDA funding from the grant. When construction is complete in June 2019, more than 100 adults and children will be living in high-quality, energy-efficient homes built in part from this funding.
“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.”
Funding for the $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. Habitat homeowners help build their own homes alongside volunteers and pay an affordable mortgage that, in turn, helps fund future Habitat builds.
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, rehabilitation projects and Aging in Place accessibility and mobility modifications for aging homeowners. Since 1983, Memphis Habitat has helped more than 500 first-time homebuyers secure affordable mortgages and completed rehabilitation and home modification projects in partnership with more than 600 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 40 years to include 45 affiliates that serve 62 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 is a self-sufficient, publicly accountable entity of the State of Tennessee whose purpose is to meaningfully expand affordable housing opportunities for Tennesseans. More information about THDA can be found online at THDA.org.
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