Housing grant to aid Manchester project
An affordable housing project that will create homes for five homeless families in Manchester has received a grant for $162,655 from the Federal Home Loan Bank of Boston.
The grant will enable New Life Ministries of New England to purchase and renovate a large single-family home in Manchester, creating five units of supportive transitional housing for single, formerly homeless mothers recovering form substance abuse.
“Having a decent, stable place to live is absolutely essential for families struggling to get out of poverty,” said Congresswoman Carol Shea-Porter in announcing the grant. “This grant will go a long way towards helping mothers and children to get back on their feet and build new lives for themselves.”
In addition to housing, the initiative will provide families with many of the tools needed to establish financial independence and economic stability including managed healthcare, employment training, job placement and daycare.
Centrix Bank will be providing a bridge loan and permanent financing for the project at a discounted rate. – TRACIE STONE