$500,000 FCLF FINANCING
Line of credit for acquisition & rehabilitation
4 Single family homes for ownership
H.O.M.E.S. stands for “Housing Opportunities, Mortgage Assistance, & Effective Solutions.” Founded in 1998 to improve blighted neighborhoods in Broward County, the organization’s name gives a good description of its programs:
- Supportive Housing and Self Sufficiency Program for youth aged 18-24, primarily those aging out of foster care;
- Home Ownership and Rental Housing Programs provide quality rental apartments and homes for sale to low-income families, helping prevent neighborhood deterioration caused by foreclosures;
- Commercial Rental Program provides office space affordable to local small businesses;
- Neighborhood Revitalization Program collaborates with local businesses, civic groups, and city government to improve the Central City CRA area of Broward County.
In their work with youth aging out of foster care, H.O.M.E.S. provides subsidized rental apartments for young adults together with support services such as paid internships, job and life coaching, financial capability classes, and higher education placement – all with a goal to help these individuals achieve self-sufficiency. To date, H.O.M.E.S. has also participated in new building and/or renovation of over 230 homes.
With financing from Florida Community Loan Fund, H.O.M.E.S., Inc. will build 4 new single-family homes on lots that were donated by Broward County. The homes will be affordable to low- and moderate-income households, and there are plans for future homes to be constructed as more lots become available.
The development of these 4 new homes will be done through collaboration with Broward Alliance for Neighborhood Development, or BAND. BAND consortium members work together on community development services in order to keep costs low and maximize services for the communities and residents they serve. Learn more about FCLF and BAND here.
Learn more at www.homesfl.org.