ATLANTA – May 16, 2016 – (RealEstateRama) — The U.S. Department of Housing and Urban Development is awarding more than $6 million to Habitat for Humanity International through its Self-help Homeownership Opportunity Program, or SHOP. Known as “sweat equity” grants, this funding will allow Habitat to partner with more families across the country to help them build a decent and affordable place to call home. The $6,188,868 awarded to Habitat represents 63.3 percent of the total $9.9 million SHOP budget.
“Habitat for Humanity deeply appreciates the ongoing support from the U.S. Department of Housing and Urban Development for our affordable housing model,” said Larry Gluth, Habitat for Humanity International’s senior vice president for U.S. and Canada. “With these funds, Habitat will help more people achieve strength, stability and self-reliance through shelter. Since 1996, when the SHOP program was created, through 2015, Habitat partnered with 65,251 new homeowners and completed 17,431 homes with SHOP funds. The homebuyers were predominately below 50 percent AMI and now have $394 million in equity.”
The SHOP program provides federal grants on a competitive basis to national and regional nonprofit organizations that have experience in administering self-help homeownership housing programs. SHOP leverages significant private capital using minimal federal dollars. From 1996 through 2015, Habitat leveraged the $210 million it received in SHOP funds into $1.2 billion for community development.
About Habitat for Humanity International
Driven by the vision that everyone needs a decent place to live, Habitat for Humanity has grown from a grassroots effort that began on a community farm in southern Georgia in 1976 to a global nonprofit housing organization in nearly 1,400 communities across the U.S. and in over 70 countries. People partner with Habitat for Humanity to build or improve a place they can call home. Habitat homeowners help build their own homes alongside volunteers and pay an affordable mortgage. Through financial support, volunteering, or adding a voice to support affordable housing, everyone can help families achieve the strength, stability and self-reliance they need to build better lives for themselves. Through shelter, we empower. To learn more, visit habitat.org.