This is a Federal Funding Notification to inform you that Neighborhood Housing Services of Orange County, Inc., a member of the national NeighborWorks® network, is being awarded $301,500 in flexible first round grant funds from NeighborWorks® America. This FY 2010 funding will support their efforts to revitalize and sustain their community and promote and preserve affordable housing for the residents of their service area in California.
During the course of FY 2010, NeighborWorks® America (also known as the Neighborhood Reinvestment Corporation) plans to provide more than $119 million in grants to its national network of more than 235 community-based nonprofit organizations to stem the tide of foreclosures that threaten neighborhoods and local economies; create homeownership opportunities for families, produce and manage affordable, high-quality rental properties, and revitalize and strengthen communities.
Additionally, through a Congressional appropriation of funds in support of the National Foreclosure Mitigation Counseling Program, NeighborWorks America has already awarded more than $356 million in grants to HUD-approved housing counseling intermediaries, state housing finance agencies and NeighborWorks® organizations to provide foreclosure counseling to families facing the threat of foreclosure – and plans to award an additional $60 million by April 2010. As of February 1, 2010, more than 1 million home owners facing foreclosure around the country had been counseled by the 1,700 grantees and sub-grantees foreclosure counseling agencies receiving funds from the National Foreclosure Mitigation Counseling Program.
“Just one indicator of the value NeighborWorks® America generates is reflected in the fact that in recent years, the corporation has leveraged its federal appropriation by a factor of approximately $35 to $1 (the amount of investment generated in communities, generated per dollar of federally appropriated funds) — resulting in a direct investment of nearly $4 billion in distressed communities in fiscal year 2009, primarily from the private sector. As stewards of taxpayer dollars, NeighborWorks® ensures our investments are working in ways that truly make a difference,” said NeighborWorks® America CEO Ken Wade. “We thank Congress and our other private, philanthropic and public funders who make our work to expand affordable housing opportunities, strengthen communities and stem foreclosures possible. Although no one organization or sector can resolve the foreclosure problem alone, NeighborWorks® America is making a significant contribution to this effort.”
Established by Congress in 1978 as the Neighborhood Reinvestment Corporation (Public Law 95-557), NeighborWorks® America is the original community/public/private partnership model, with locally-driven, efficient community development and leverage of the public investment as its hallmarks. Over the past 30+ years, NeighborWorks® America and its affiliated local community-based NeighborWorks® organizations have consistently replicated this successful model in over 4,500 communities in all 50 states, the District of Columbia and Puerto Rico; in America’s urban, suburban and rural communities. NeighborWorks® organizations receive grants and programmatic support from NeighborWorks® America, as well as training scholarships to the NeighborWorks® Training Institute.
Over the past five years the NeighborWorks® network has been able to:
• Invest nearly $20 billion in America’s urban, rural, and suburban communities;
• Provide homeownership counseling to 500,000 families;
• Assist more than 80,000 American families of modest means achieve their dream of home ownership;
• Develop, own and manage over 73,000 units of affordable, high quality multifamily housing;
• Rehabilitate more than 85,000 homes, using state-of-the-art methods, including green and healthy building techniques;
• Create the nation’s largest force of certified homeownership education and foreclosure intervention counselors;
• Invest in rebuilding efforts in hurricane-affected communities across the Gulf Coast; and
• Mobilize hundreds of thousands of volunteers to revitalize communities.
For questions about NeighborWorks® America or these grants awards, or if you would like to schedule a briefing regarding NeighborWorks, please reply to this e-mail or call NeighborWorks America’s Office of Public Policy and Legislative Affairs at: (202) 220-2443.
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