$500,000 THDA grant to help local families

By AUTUMN HUGHES
Posted 2/10/19

Initially, five households will be affected by a $500,000 grant recently received by the Cleveland-Bradley Housing Corporation. However, the impact will continue to spread throughout and improve the community by helping more people realize the dream of home ownership.

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$500,000 THDA grant to help local families

Posted

Initially, five households will be affected by a $500,000 grant recently received by the Cleveland-Bradley Housing Corporation. However, the impact will continue to spread throughout and improve the community by helping more people realize the dream of home ownership.

The Tennessee Housing Development Agency awarded the $500,000 HOME grant to CBHC for homeownership in Bradley County. THDA awards HOME grants annually through a competitive application process to cities, counties, and nonprofit organizations across the state. The HOME program uses state and federal dollars to make this grant possible.

“This is an exciting opportunity for residents in Bradley County who maybe thought homeownership was beyond their reach,” said Demetrius Ramsey, executive director of CBHC. “We are hoping to help residents reach their dream of homeownership,”

Katie Moore, industry liaison with THDA, said the funding can be used to rehabilitate or build substantial homes in the community. She added $500,000 is the maximum grant amount available.

“We have a very strong relationship with CBHC,” Moore said.

Ramsey said this marks the first time CBHC has received a grant for home ownership, noting “THDA has funded us before for home rehabilitation,” as well as homebuyer education and rental assistance.

Ramsey said CBHC is “hoping to identify potential homeowners” who can benefit from the HOME program. To help with that process, CBHC is hosting an information session on Tuesday, Feb. 12, at 6 p.m. at First Baptist Church at 1275 Stuart Rd N.E., in Cleveland.

Anyone with interest is encouraged to come, but funds are more focused toward low-income individuals.

In addition, Ramsey said Dr. Harry Johnson, CBHC executive assistant, is in the process of identifying property to purchase as part of this grant. Johnson said after the first five homes are secured, those homeowners will reimburse CBHC.

“We’ll use the money we receive back to buy more houses,” Johnson said.

Moore said by reinvesting the grant money into future projects, CBHC is recycling the funding.

“These are affordable homes at affordable price points that hard-working community members can benefit from,” she said.

Moore added THDA is the state’s housing agency and relies on local partners to make the HOME program successful.

Cleveland Bradley Housing Corporation, a subsidiary of Bradley/Cleveland Community Services Agency, an active Community Housing Development Organization provides HOME rental housing, first-time homebuyer education, and post purchase education. Since inception in 1993, more than $3 million from Tennessee Housing Development Agency has been received to help close the gap for persons who need safe, sanitary, and affordable housing.

CBHC will utilize HOME grant funds as construction financing to building five new homes to maintain affordability for sale to five qualified low to moderate income homebuyers. The five new homes will be constructed on scattered site locations in Bradley County, to be selected by the homebuyers to fit their families’ needs.

To qualify for the program the homebuyer must be a first-time homebuyer, complete a homebuyers education course, and meet income guidelines. For a family of two the income level is $37,200, a family of four income level is $46,500. Anything below this is considered low-income.

To learn more about this program and how it can potentially benefit you, everyone is encouraged to attend an information session on Tuesday, Feb. 12, at 6 p.m. at First Baptist Church at 1275 Stuart Road N.E.

For more information about the HOME grant or the Cleveland-Bradley Housing Corporation, call 479-4111, ext. 112, Monday through Friday, 8 a.m. to 4:30 p.m.

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