11. SUSTAINABLE CITIES AND COMMUNITIES

Enterprise launches new program to protect low-income housing communities

Impact team
Written by Impact team

Enterprise launches new program to protect low-income housing communities  Real Estate Weekly

Emergency Action for Resident and Partner Stability, a Covid-19 response program providing relief funding and assistance to nonprofits to ensure that individuals and families living in affordable housing communities can remain in their homes and access support, was launched today by Enterprise Community Partners.

The program’s goal is to ensure immediate and continued housing and economic stability for low-income residents, along with sustainability for organizations on the ground that provide housing and supportive services.

Emergency Action for Resident and Partner Stability offers nonprofit community partners flexible support, including:

·         Emergency grants of up to $150,000 to help organizations stay afloat and meet the immediate needs (such as rent, utilities and resident services) of the families and individuals they serve.

·         Immediate and long-term guidance on resilience planning and financial strategies, as well as other technical assistance and training to help community-based nonprofits remain viable.

·         Aid for organizations seeking critical government relief funds and other interventions that can help address resident and community needs.

As part of this effort, Enterprise is advocating to secure governmental resources at the federal, state and local levels to provide services and support for vulnerable communities and residents affected by the pandemic.

“Covid-19 is disproportionately impacting people and communities of color,” said Priscilla Almodovar, chief executive officer, Enterprise Community Partners.

PRISCILLA ALMODOVAR

“Affordable housing providers, many of whom are nonprofits, are on the front-lines assembling resources to support their residents and carry out basic operations. Governmental aid is critical over the long term but people need help right now, and philanthropy is stepping up.”

The philanthropic support that Enterprise is seeking for the program will complement the resources the organization already deploys each year in communities around the country. Initial contributions totaling $2 million from the Wells Fargo Foundation , as well as gifts from Ballmer Group and Center for Disaster Philanthropy are making it possible to distribute the funds at speed.

Enterprise also contributed $1.4 million of its own resources to the program to help meet the overwhelming demand.

Emergency Action for Resident and Partner Stability was created to respond to the needs of dozens of housing partners who work with Enterprise’s 11 markets, and on rural and native lands around the country.

Work is underway to distribute the first wave of emergency grants to key partners and provide on-the-ground assistance. Owners and operators of affordable housing interested in learning more about the program can fill out an inquiry form.

Corporations and foundations interested in making a contribution to support the Emergency Action for Resident and Partner Stability program should contact Tammy Garlow at tgarlow@enterprisecommunity.org. Individuals can also make a donation through Enterprise’s website at www.enterprisecommunity.org.

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Source: rew-online.com

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