For nearly two decades, families in St. Charles County have depended on Habitat for Humanity for affordable housing options. Now, with the recent purchase of an additional 15 plots of land, Habitat for Humanity has committed to the construction in the area of approximately 20 more safe, universally designed, affordable homes over the next 4 years.
The purchases will allow Habitat for Humanity to establish a “land bank” – a collection of suitable build sites acquired now and developed later – in an effort to avoid having to pay more for less-desirable land in the future.
Habitat for Humanity also offers financial management classes and home maintenance workshops to help prepare families for home ownership. Each family is also required to contribute at least 350 sweat-equity hours. As the St. Charles County Habitat for Humanity is both the builder and the banker for the completed homes, they are able to take the principal payments and reinvest those funds in future construction.
IFF is supporting this project through a $300,000 loan, its third to the St. Charles nonprofit and its 16th to Habitat for Humanity chapters throughout the Midwest. Local families and donors interested in Habitat’s affordable housing opportunities are encouraged to visit their website to learn more.
Tags: : Capital Solutions, Housing