HAC Awards $9.2 Million for Local Self-Help Homeownership Programs

Contacts: Dan Stern, Housing Assistance Council, (202) 842-8600 x137
jann Yankauskas, Housing Assistance Council, (202) 842-8600 x149

Washington, D.C., November 7, 2011 – The Housing Assistance Council (HAC) is partnering with 32 organizations in 14 states and Puerto Rico to build 626 self-help homes for low-income families around the country. HAC will provide financing for these projects using more than $7.38 million in funds from the federal Self-Help Homeownership Opportunity Program (SHOP), which is administered by the Department of Housing and Urban Development, and $1.83 million from other sources.

Families participating in the SHOP program provide sweat-equity to construct their homes. “Despite the troubled economy, low-income families across the nation are still committed to becoming homeowners, and they are willing to make the physical and financial investment needed to make that dream a reality,” said Moises Loza, HAC’s executive director. “By working together, the families build a community as they build houses. They are incredibly dedicated – putting in long hours on weekends and evenings to finish their homes.”

Local affiliates leverage resources from a variety of private and public sources to provide this affordable housing opportunity to low- and moderate-income homebuyers. Most 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.

“Self help housing programs demonstrate what is possible when committed homebuyers, fair lending products, and effective community organizations work together to create sustainable homeownership opportunities,” stated Loza. Since the inception of the SHOP program, HAC has been awarded $102.1 million to produce 8,490 units of affordable housing for families.

A national nonprofit corporation headquartered in Washington, D.C., and founded in 1971, the Housing Assistance Council helps 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.

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Self Help Homeownership Opportunities Program Recipients, November 2011

ORGANIZATION	STATE	TOTAL UNITS
Crawford Sebastien Community Development Corporation	AR	19
Northwest Regional Housing Authority	AR	6
South Arkansas Community Development	AR	6
Burbank Housing Development Corporation	CA	60
Peoples’ Self-Help Housing Corporation	CA	24
Self-Help Enterprises	CA	30
South County Housing Corporation	CA	30
Milford Housing Development Corporation	DE	4
Florida Home Partnership, Inc.	FL	67
Frontier Housing, Inc.	KY	10
Housing Development Alliance	KY	20
Kentucky Highlands Community Development Corporation	KY	6
Marquette County Habitat for Humanity	MI	7
Ozark Foothills Development Association	MO	10
North Carolina Indian Housing Authority	NC	5
PathStone Corporation	PR	9
Inter-Lakes Community Action Partnership	SD	15
Community Action Network	TN	10
Creative Compassion, Inc.	TN	5
Eastern Eight Community Development Corporation	TN	23
Lower Valley Housing Corporation	TX	60
Proyecto Azteca	TX	13
Color Country Community Housing, Inc.	UT	20
Housing Authority of Southeastern Utah	UT	7
Mountainlands Community Housing Association	UT	8
Neighborhood Nonprofit Housing Corporation	UT	30
Rural Housing Development Corporation	UT	50
Community Housing Partners	VA	35
Helping Overcome Poverty’s Existence, Inc.	VA	23
People, Inc. of Virginia	VA	5
Southern Appalachian Labor School	WV	4
Telamon Corporation	WV	5
Grand Total		626