Greenville Housing Fund announced The Homeowner Preservation Funding Program
November 15, 2018
The Greenville Housing Fund, an organization that provides innovative funding and investments for affordable and workforce housing, is excited to announce its newest program, The Homeowner Preservation Program (HOPP). With support from partners such as IBERIABANK, Hollingsworth Funds and Westminster Presbyterian Church, The Homeowner Preservation Program (HOPP) will assist low and moderate income homeowners in making repairs to their owner-occupied homes.
“By working together to stabilize these neighborhoods, the community is leveraging the opportunity to grow,” says Deb Long, Vice Chair of Greenville Housing Fund. “This work is made possible by the companies and organizations that are contributing financially to this program. For instance, IBERIABANK, is not only a catalyst investment partner but also a strategic partner, being the first bank to contribute to this program,” says Long.
The goal of this program is to preserve affordable homeownership for existing residents and ensure their health and safety. The purpose of this effort is to correct life, health and safety issues, provide accessibility for disabled persons, repair or replace major housing systems and address structural problems. The Homeowner Preservation funding will be made available to eligible nonprofit rehabilitation partners working in target neighborhoods within both the City and County of Greenville. Target neighborhoods include, Judson/Dunean, Nicholtown, Pleasant Valley, Poinsett/Rutherford, West Greenville and White Horse Road, which are initial priority areas.
The HOPP will provide home repairs for homes like that of Lula Mae Jenkins, a resident of the Judson neighborhood. Earlier this year, Rebuild Upstate repaired her HVAC so that she now has heat in the winter and cool air in the summer, as well as her bathroom flooring. “I didn’t know what I was going to do. I had to get my heat repaired because winter was coming,” said Ms. Jenkins. “I’m looking forward to living a peaceful life in my home where I can raise my great granddaughter.” Rebuild Upstate knows of over 600 families in similar situations throughout Greenville County.
“Rebuild Upstate is very excited about this focus on home preservation,” said Chris Manley, President/CEO of Rebuild Upstate. “There are hundreds of homes in Greenville County that desperately need repairs to be safe and healthy for the families living in them. This program will allow more of these homes to be repaired and preserved, thus taking at least some stress off of the overwhelming need for new affordable homes,” says Manley.
“We are thrilled to support a program that is working to assist homeowners in our community to ensure they have a safe and healthy place to live,” says Sam Erwin, Regional President of the Carolinas at IBERIABANK. “By being the first bank to support this cause, our hope is that it results in a ripple effect encouraging other organizations to contribute as well,” says Erwin.
ABOUT THE GREENVILLE HOUSING FUND
The Greenville Housing Fund was established as a result of the recommendations made in the “Balancing Prosperity and Affordable Housing” Report completed by the City of Greenville in 2016. City Council adopted the report and appropriated $2 million to establish the fund in January 2017.
The Greenville Housing Fund (GHF), operating as a wholly-owned LLC under CommunityWorks, Inc. supports the production and preservation of quality affordable and workforce housing that meets the needs of all Greenville residents regardless of income. The fund’s goals are to serve as an advocate and champion for affordable housing in Greenville, invest in affordable and workforce housing development, and acquire land for affordable housing development.
GHF is committed to affordable housing issues and actively promotes policies that support the creation and preservation of affordable and workforce housing as well as work with for profit and nonprofit affordable housing developers to increase housing stock. Financial and technical assistance is available to affordable and workforce housing developers and local government entities through a variety of loans and development programs. GHF intends to be an innovative financier and advocate for affordable/workforce housing. Initial financing will include loan programs and land acquisition efforts with future products/programs to be developed by the GHF Board of Directors over the next several months.
