Housing Development Fund Inc. received a $3.7 million project grant award from the Department of the Treasury's Community Development Financial Institutions Fund Equitable Recovery Program to provide affordable housing solutions and expand lending to underserved communities disproportionately impacted by COVID-19 through June 2028. The CDFI ERP aims to support Community Development Financial Institutions in responding to pandemic impacts by increasing lending, investments, and grants in low-to-moderate income areas and to borrowers with unmet capital needs. Housing Development Fund Inc. will use the funding to finance affordable housing developments and provide loans to first-time homebuyers, while building its capacity to serve these markets. The organization previously received $10M+ in CDFI Fund grants since 2021 for similar purposes. It was also awarded two sub-grants totaling less than $100,000 from the Neighborhood Reinvestment Corporation to administer comprehensive housing counseling services.
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