FCRHA Authorizes Funding to Help Acquire Units for Affordable Rental Housing, Rehabilitation and Site Work
The FCRHA authorized deferred loans to four local nonprofit organizations using federal Community Development Block Grant (CDBG) funds. These funds will provide:
Habitat for Humanity of Northern Virginia (Habitat NOVA): $150,000. Habitat NOVA will undertake pre-development and site-work activities to create one unit to provide affordable homeownership housing for a low-income household.
Operation Renewed Hope Foundation (ORHF): $582,274. ORHF will acquire and rehabilitate two housing units to provide affordable rental housing for up to two low income families or four low income individuals.
Pathway Homes, Inc.: $837,897. Pathway Homes will acquire five one-bedroom condominium units to provide affordable rental housing and supportive services for extremely low income individuals who are homeless or precariously housed and who have special needs related to mental illness, co-occurring substance abuse disorders, or intellectual disorders.
Wesley Housing Development Corporation (WHDC): $957,351. WHDC will undertake pre-development and site-work activities of the 40 units in the Arden Community Building A (part of a multifamily housing construction project in Mount Vernon District) that have restricted incomes at or below 40 percent and 50 percent of Area Median Income.