Loan fund wins federal housing grant

The nonprofit New Hampshire Community Loan Fund has received a $3.7 million grant to help it develop and support affordable housing for low-to-moderate income families in the state. The grant – part of the U.S. Treasury Department’s Community Development Financial Institutions Fund – will be used in two ways: to help residents living in manufactured housing parks purchase the land on which their homes sit, as well as to pilot a new strategy for filling vacant lots with affordable housing in these communities. “We are thrilled to receive notice of this award,” said Juliana Eades, president of the Loan Fund, in a statement. “The goal of the Capital Magnet Fund is to attract significant private investments, and our winning application reflects the commitment of New Hampshire’s local banks to invest in these core communities.U.S. Sen. Jeanne Shaheen, who announced the grant said, “In this difficult economy, this work is more important than ever, and I am pleased the Community Loan Fund has received this additional support to help continue its efforts.” — KATHLEEN CALLAHAN/NEW HAMPSHIRE BUSINESS REVIEW

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