HomeOwnership Center, Inc. (HOC) has been awarded a $70,000 Maximizing Appalachian Capacity (MAC) Grant from Fahe, a regional network dedicated to building thriving communities across Appalachia. This funding is part of a $2.4 million investment supporting 11 nonprofits and is expected to leverage $19.4 million in additional resources, creating jobs, expanding housing production and serving more than 600 households.
With this grant, HOC will launch a below-market construction loan program to help local developers build affordable homes in rural north central West Virginia. The initiative includes staff training in commercial lending, new revenue streams and a replicable model for other rural communities.
“Facing a future of diminished and uncertain federal funding, HOC recognizes the need to diversify funding and expand our activities to remain sustainable and responsive to the communities we serve. The Fahe MAC Grant helps us take that next step, strengthening our lending capacity and allowing us to make a greater impact on both sides of the housing equation,” said Kate Somers, Executive Director of HomeOwnership Center, Inc.
The MAC Grant program is part of Fahe’s Housing Can’t Wait® campaign, aimed at expanding access to affordable housing in Appalachia by 2030. Funding was made possible through an unrestricted grant from the Yield Giving Foundation, empowering Fahe to direct resources where they can have the greatest impact.
“Appalachia’s future depends on strong local institutions,” said Jim King, Fahe CEO. “These awards give our Members funding to pursue the tools, talent, and infrastructure they need to accelerate housing and community development across the region.”
Fahe unites people, organizations, and resources to build homes, strengthen communities, and create a thriving Appalachia. Since 1980, Fahe and its Members have invested nearly $5 billion, improving life for more than one million people through housing, advocacy, and local leadership.
Fahe established this competitive grant program as part of their Housing Can’t Wait® campaign to expand access to affordable housing in Appalachia by 2030. Fahe Members designed the awards application. Fahe staff and a distinguished awards committee of Board members reviewed Fahe Member applications for strategy, readiness, and impact. Impact results will be published in a future report.
Funding for the MAC Grant Awards was made possible thanks to an unrestricted grant that Fahe received from the Yield Giving foundation. Transformational financing empowered Fahe to direct the funding in a manner that would be most productive to Fahe’s mission.