$3.7 Million on the Way to NH Community Loan Fund
Monday, October 18, 2010
CONCORD, N.H. - Affordable housing projects in New Hampshire are set to get a boost: The New Hampshire Community Loan Fund has been awarded a grant worth over $3 million to expand affordable housing across the state.
Juliana Eades, the president of the New Hampshire Community Loan Fund, says the grant is expected to attract an additional $44 million in private investments.
"The grant from the federal government makes us stronger so that we can attract community investments, and then turn around and invest them in affordable housing projects in New Hampshire."
Eades says the New Hampshire Community Loan Fund will help people purchase manufactured and mobile homes by providing fixed-rate loans, and it will also help facilitate the construction of affordable apartments.
"Affordable housing is a huge need in New Hampshire, especially in this incredibly uncertain time. It's hard for people of modest means to get the rental and home ownership housing that they need."
The New Hampshire Community Loan Fund was one of 23 community development financial institutions and non-profits across the country to receive the one-time infusion from the U.S. Treasury.
Capital Magnet Fund information is at www.cdfifund.gov
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