HDF Awarded Charter Membership by NeighborWorks America
STAMFORD, CT — The Housing Development Fund (HDF) has been awarded a charter by the esteemed organization NeighborWorks® America, the nation’s premier leader in affordable housing and community development and a national network of more than 235 independent, community-based nonprofits. HDF joins NeighborWorks and its member organizations that serve over 4,500 communities nationwide, working hard to meet the housing needs of hundreds of thousands of lower-income people, improve their lives, and strengthen communities through the production of affordable housing.
HDF enters a community of only six other existing charter members in Connecticut. This achievement involved HDF meeting strict membership criteria and performance standards and undergoing careful review by NeighborWorks America. NeighborWorks organizations are also reviewed annually to ensure they are providing the most effective and highest-quality services in the housing industry.
As a chartered member, HDF receives organization benefits and access to funding opportunities, technical assistance, training, programmatic support, and other resources provided by federally funded NeighborWorks America.
Since 1991, NeighborWorks organizations have assisted nearly 1.2 million low- to moderate-income families with their housing needs. In the last five years, NeighborWorks has generated nearly $20 billion in reinvestment in these communities. NeighborWorks America is the nation’s preeminent trainer for housing and community development professionals, as well as a nationally recognized leader in the fight against foreclosures.
Like NeighborWorks, HDF helps families attain homeownership and affordable rentals through counseling, homebuyer education, financing, and investment in affordable housing. NeighborWorks and HDF share similar missions, and both work to create opportunities for families to improve their lives and strengthen their communities by providing access to homeownership, safe and affordable housing and rentals, and counseling to help people find and also keep their homes.
“HDF is really excited to be part of NeighborWorks,” said Joan Carty, President and CEO of HDF. “We have long admired their demonstrated commitment to hardworking families and to building strong communities. We are thrilled to be part of a great team.”
About the Housing Development Fund– HDF is a certified Community Development Financial Institution (CDFI) and HUD-Approved Counseling and Lending Agency established 1989 as a nonprofit organization to finance the development of affordable housing. Since its inception, HDF has been creating affordable housing solutions for low- to moderate-income households in the high cost markets of southwestern Connecticut. In that time, it has grown to a loan fund with $44.7 million in assets that encompasses lending programs for pre-development, acquisition, rehabilitation, new construction, and permanent financing. Other projects have included affordable family housing, senior housing, special needs housing and supportive housing. In addition to its financing resources and functions, HDF provides homebuyers’ education and one-on-one counseling to help families qualify for special mortgage financing programs. HDF also provides foreclosure prevention services through monthly clinics and individual counseling.