HAC Awards $6.2 Million for Local Self-Help Homeownership Programs

Contact: Dan Stern, (202) 842-8600 x137
jann Yankauskas, (202) 842-8600 x149

Washington, D.C., October 25, 2012 – The Housing Assistance Council (HAC) is partnering with 19 organizations in 10 states to build 385 self-help homes for low and moderate-income families. HAC provides financing for these projects using $5.3 million in funds from the federal Self-Help Homeownership Opportunity Program (SHOP), which is administered by the Department of Housing and Urban Development, and $922,345 from other sources.

Through the SHOP program, families develop sweat-equity in the construction of their homes and create a sense of community by assisting their neighbors with the construction of their homes as well. “The self-help housing model illustrates the huge investment of time and energy low-income homebuyers are willing to make to build their own communities. As families build homes together, they create stable, affordable neighborhoods,” said Moises Loza, HAC’s Executive Director. “HAC is proud to work with local organizations across the nation to help families pursue their goals of homeownership.”

Local affiliates leverage resources from a variety of private and public sources to provide this affordable housing opportunity to low- and moderate-income homebuyers. Many of the families participating in HAC-funded SHOP projects obtain low-interest mortgage loans from the U.S. Department of Agriculture’s homeownership program. By leveraging critical resources, including use of volunteer labor when possible, self-help housing producers are able to create affordable, sustainable homeownership opportunities for low-income homebuyers.

SHOP funds cover costs associated with land acquisition and infrastructure improvements. Community-based organizations will supervise homebuying families who work together in groups to construct their own homes and their neighbors’. HAC’s local SHOP affiliates can use up to $15,000 per unit for eligible development. They are responsible for all construction activities, including securing additional funding, preparing sites, training families, and managing the self-help process.
Since the inception of the SHOP program, HAC has been awarded funding to produce 8,711 units of affordable housing for families. HAC’s local partners have completed 7,957 homes and are on track to finish 9,010.

About the Housing Assistance Council
Founded in 1971 and headquartered in Washington, D.C., the Housing Assistance Council is a national nonprofit corporation dedicated to helping local organizations build affordable homes in rural America by providing below-market financing, technical assistance, research, training, and information services. HAC’s programs focus on local solutions, empowerment, reduced dependency, and self-help strategies. HAC is an equal opportunity lender. To learn more about HAC’s programs visit www.ruralhome.org.

ORGANIZATION	STATE	TOTAL UNITS
Clinch-Powell Resource Conservation and Development Council	TN	5
Color Country Community Housing, Inc.	UT	9
Community Action Network	TN	5
Community Concepts, Inc.	ME	40
Eastern Eight Community Development Corporation	TN	40
Frontier Housing, Inc.	KY	15
Hawaii Island Community Development Corporation	HI	10
Housing Development Alliance	KY	20
Kentucky Highlands Community Development Corporation	KY	6
Knox Housing Partnership	TN	5
Milford Housing Development Corporation	DE	20
Mountainlands Community Housing Trust	UT	10
Neighborhood Nonprofit Housing Corporation	UT	30
Northwest Regional Housing Authority	AR	6
Ozark Foothills Development Association	MO	10
Peoples’ Self-Help Housing Corporation	CA	59
Rural Alaska Community Action Program, Inc.	AK	12
Rural Housing Development Corporation	UT	50
Self-Help Enterprises	CA	33
Grand Total		385