This revolving loan fund offers affiliates a way to keep up with the skyrocketing costs of purchasing land for building simple, decent, affordable homes. The initial seed money of $500,000 from Oregon’s Housing and Community Services Department is a five-year, 0% interest loan, which we expect to grow with additional monies from private foundations and individual donors as we demonstrate the success of the program.
Any Habitat for Humanity affiliate in Oregon can apply for funds to assist in the process of acquiring land, purchasing permits, paying fees, and other activities related to homebuilding and renovation. Payments on the loans, made by the borrowing affiliate, will replenish the fund, allowing for continued lending to additional Habitat for Humanity projects in Oregon. The fund is designed to become self-sustaining within five years. As additional monies are invested in the fund, Habitat for Humanity will increase the number and amounts of loans to affiliates.
Among the 34 affiliates across Oregon there is a wealth of knowledge: from nonprofit management to home building skills. In 2009 Habitat for Humanity of Oregon will become the centralized resource for that knowledge through a technical support and mentorship program that will include annual affiliate meetings to promote collaboration, sharing and networking.
Habitat for Humanity of Oregon is the official liaison between the Oregon affiliates and the state government. In this role, we educate elected officials about affordable housing and the difficulties many hardworking Oregonians face in seeking homeownership. We actively pursue increasing government funding for affordable housing and establish important goals for those government funds each fiscal year. In addition, we work with affiliates in defining advocacy policies, agendas, and implementation timelines.
We coordinate Habitat for Humanity’s involvement in various charitable fund drives across the state, including the Oregon Charitable Check-Off Program. Through these programs we are able to distribute an additional $100,000 to Oregon affiliates.