NEWS Release
U.S. Rep. Sue Myrick
Representing North Carolina’s Ninth District
| FOR IMMEDIATE RELEASE October 23, 2003 |
Contact: Andy Polk (202) 225-1976 |
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Myrick Announces $500,000 grant to the Charlotte-Mecklenburg Housing Partnership, Inc. |
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| (Washington, D.C.) – U.S. Representative Sue Myrick (NC-9) today announced that a $500,000 grant has been awarded to the Charlotte-Mecklenburg Housing Partnership (CMHP). The grant has been awarded by the US Department of Treasury’s Community Development Financial Institutions (CDFI) Fund, which seeks to strengthen organizations like the CMHP.
The Charlotte-Mecklenburg Housing Partnership is a nonprofit CDFI created in 1988 to develop, rehabilitate, and finance single-family and multi-family housing for low-income individuals and families in the Charlotte-Mecklenburg area. The $500,000 grant allows CMHP to increase the volume of its secondary mortgage product - the Home Sweet Loan, which allows marginal potential homeowners more flexibility in purchasing a home. It will also be used to expand CMHP’s Individual Development Accounts (IDA) program, which focuses on helping customers save and prepare for homeownership. "The ability to own a home is the American Dream. The Charlotte-Mecklenburg Housing Partnership makes this dream available to those who might not be able to afford a home otherwise," Myrick said. "Over the last several years, funding from the CDFI Fund has allowed CMHP to expand and grow creative programs that make home buying more affordable," said CMHP President Pat Garrett. "Programs such as our IDA match savings program allow CMHP to match 2 to 1 every dollar a potential homeowners saves, providing up to $3,000 towards down-payment assistance." ### |
