Friday, August 20, 2010

Housing Fund to receive $750,000

WASHINGTON — The Housing Fund Inc., a Nashville-based nonprofit that finances affordable housing and neighborhood revitalization projects, will receive $750,000 as part of $105 million in awards announced Thursday by the U.S. Treasury Department to financial institutions serving struggling communities.
The money will be used as financing capital, the Treasury Department said. The Housing Fund, founded in 1996, has helped more than 2,600 first-time homebuyers receive $17.3 million in down payment assistance loans, as well as providing more than $45 million in financing to help individuals and organizations buy, rehabilitate or build homes for low- and moderate-income families, according to its website.

The grants from Treasury's Community Development Financial Institutions Fund will go to 180 institutions in 44 states.

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