April 17, 2012
Gordon Anderson (512) 475-4743
State housing agency awards $1.1 million to regional nonprofit enhancing client stability, neighborhood vitality
(AUSTIN) — The Texas Department of Housing and Community Affairs (TDHCA) today announced grants and loans totaling $1.1 million to Central Texas Opportunities (CTO) to help promote greater housing stability for its clients while revitalizing local neighborhoods and the regional economy.
The awards will help the Coleman-based regional nonprofit provide a range of housing services to low income clients residing in Brownwood, Bangs, Baird, Clyde, Cross Plains, Coleman, Comanche, DeLeon, Cisco, Eastland, Ranger, Brady, Ballinger, and Winters.
TDHCA awarded CTO $542,000 to reconstruct six deteriorating homes owned and lived in by low income households and another $322,500 to provide down payment and closing cost assistance to help 15 qualifying households purchase a home of their own. In addition, CTO received $300,000 from TDHCA to help 20 low income clients pay their rent for up to 24 months and meet security and utility deposit requirements.
“Increasing homeownership opportunities for households ready to take that big step is an important mission of the Department,” said Tim Irvine, TDHCA Executive Director. “However, TDHCA is equally committed to repairing substandard housing and helping low income Texans meet their basic housing needs. Together, today’s awards will help bring greater stability to families and neighborhoods while, in some cases, generating construction jobs and local purchases that fuel the local economy.”
All three awards were made through TDHCA’s HOME Investment Partnerships Program, a federal program designed to expand the supply of decent, affordable housing and strengthen public-private housing partnerships through a wide variety of housing activities.
Qualifying applicants include rural cities and counties, public housing authorities, Community Housing Development Organizations and other nonprofit groups, and certain for-profit organizations which then work with eligible households at the local level.
The U.S. Department of Housing and Urban Development is the funding source for the HOME Program. The program serves households earning no more than 80 percent of the area median family income. However, it may be another few weeks before CTO will be prepared to accept applications for assistance; area residents should await further information before contacting the organization.
About the Texas Department of Housing and Community Affairs
The Texas Department of Housing and Community Affairs administers a number of state and federal programs through for-profit, nonprofit, and local government partnerships to strengthen communities through affordable housing development, homeownership opportunities, weatherization, and community-based services for Texans in need.
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