Senator Coons Helps Award $1 Million in Grants for Habitat Projects
U.S. Senator Chris Coons (D-Del.) joined Kent and Sussex County Habitat for Humanity members, bankers, and civic leaders today to help award a total of $1.017 million in affordable housing grants to help complete four Habitat projects.
The grants, delivered through Fulton Bank and Wilmington Savings Fund Society in conjunction with the Federal Home Loan Bank (FHLBank Pittsburgh), will allow community volunteers and family members to complete 17 new units of Habitat housing in Frederica, Georgetown, Laurel, and Rehoboth Beach. Central Delaware Habitat for Humanity is sponsoring the Frederica project and Sussex County Habitat for Humanity is sponsoring the three others.
“Simple, decent and affordable housing is a cornerstone for the American dream,” said Sen. Coons. “Thanks to great community partners like Federal Home Loan Bank of Pittsburgh, Fulton Bank and WSFS financially supporting community organizations like Central Delaware Habitat for Humanity and Sussex County Habitat for Humanity, more Delawareans are able to reach their life goal of owning their own home.”
In all four projects, families moving into Habitat homes must have lived or worked in the county for a year, demonstrated a need for housing, and demonstrated an ability to repay the zero-interest loans that Habitat provides for financing. In addition, qualifying families must complete homeownership workshops and engage in “sweat equity” by helping to build their own or a neighbor’s home.
Senator Coons served as guest speaker at today’s event, which was held at the Frederica project. Other attendees included Jocelyn Tice, executive director of Central Delaware Habitat; Kevin Gilmore, executive director of Sussex County Habitat; and Kris Williams, chief operating officer of FHLBank Pittsburgh.
“Partnering with WSFS Bank and FHLBank Pittsburgh on this project is truly a blessing and not only helps impact the lives of our future six Habitat homeowners, but also those of the other six Habitat homeowners currently living in the community,” said Tice. “This opportunity has allowed us to continue our revitalization efforts by collaborating with local government, Frederica residents, and local businesses and organizations to provide affordable homeownership,” she said.
“This partnership with FHLBank Pittsburgh is critical to our ability to serve local communities with affordable housing,” said Gilmore. “Without these resources, we would not be able to serve nearly as many hardworking, low-income families with the opportunity of homeownership.”
WSFS Bank worked with officers of Central Delaware Habitat for Humanity to coordinate the grant for the Frederica project while Fulton Bank worked with Sussex County Habitat on the remaining projects. The funds were awarded on a competitive basis based on criteria established by FHLBank Pittsburgh’s Affordable Housing Program.
As an intermediary between global capital markets and local lenders, FHLBank Pittsburgh provides readily available liquidity, as well as affordable housing and community development opportunities, to member financial institutions of all sizes in Delaware, Pennsylvania and West Virginia. The Bank is one of 12 banks in the Federal Home Loan Bank System, which was established by Congress in 1932 and serves as a reliable source of funds for housing, jobs and economic growth in all economic cycles.
The projects receiving funding today included:
Frederica Neighborhood Revitalization Project
Frederica, Del.
Member:
Wilmington Savings Fund Society, FSB
Sponsor:
Central Delaware Habitat for Humanity Inc.
Units: 6
AHP Grant: $300,000
Total Development Cost: $704,498
Central Delaware Habitat for Humanity Inc. (CDHFH) will construct six new affordable homes in Frederica, Del. CDHFH began building in Frederica in 2011. The six new homes will exceed energy efficient code and will either be one- or two-story, depending on the lot size. Habitat homeowners must live or work in Kent County for one year, demonstrate a need for housing, demonstrate an ability to pay and demonstrate a willingness to partner with Habitat. Once each home is completed, the home is sold to the homebuyer with a no-interest, 25-year mortgage.
Georgetown Point Final Phase
Georgetown, Del.
Member:
Fulton Bank, N.A.
Sponsor:
Sussex County Habitat for Humanity Inc.
Units: 6
AHP Grant: $432,000
Total Development Cost: $ 935,400
The Georgetown Point Final Phase project will include six new homes built by Sussex County Habitat for Humanity, AmeriCorps members and community volunteers in the Georgetown Point subdivision in Georgetown, Del. All homebuyers will have an income at or below 60 percent of area median income, with two homes housing families that are homeless and two homes housing families with special needs. All families will be required to attend pre- and post-homeownership classes, and each adult in a family will be required to contribute 250 “sweat equity” hours building their home and/or the homes of other families in the program. The subdivision is located near government/community services and facilities, employment, transportation, schools, colleges, medical facilities, restaurants and shopping malls.
West Rehoboth
Rehoboth Beach, Del.
Member:
Fulton Bank, N.A.
Sponsor:
Sussex County Habitat for Humanity Inc.
Units: 1
AHP Grant: $82,000
Total Development Cost: $ 173,750
The West Rehoboth project is a single-family home construction for a very-low-income family in the West Rehoboth area of Rehoboth Beach, Del. Sussex County Habitat for Humanity and the West Rehoboth Community Land Trust will bring the community together to build the house, secure the land and administer the land trust model after the home is built and sold. The family will be required to attend pre- and post-homeownership classes and participate in land trust pre-homeownership counseling. Each adult in the family will also be required to contribute 250 hours of “sweat equity” building their home and/or the homes of other families in the Habitat program.
Western Sussex County Project
Laurel, Del.
Member:
Fulton Bank, N.A.
Sponsor:
Sussex County Habitat for Humanity Inc.
Units: 4
AHP Grant: $203,031
Total Development Cost: $564,100
The Western Sussex County Project will include three new homes built by, and one donated home renovated by, Sussex County Habitat for Humanity, AmeriCorps members and community volunteers in the Seaford-Laurel area of Sussex County, Del. The homebuyers will have an income at or below 60 percent of area median income. All families will be required to attend pre- and post-homeownership classes, and each adult in a family will be required to contribute 250 hours of “sweat equity” building their home and/or the homes of other families in the program. The homes will be located within a five-minute drive of community services and facilities, schools, restaurants and shopping malls.
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