Oct. 4, 2020 – The Tennessee Housing Development Agency (THDA) has awarded over $2.4 million dollars in Tennessee Housing Trust Fund grants to help increase access to affordable housing across the state.
The grants will be used to fund a variety of projects that seek to provide affordable housing for at-risk groups ranging from the intellectually disabled to ex-offenders.
THDA Executive Director Ralph M. Perrey said the grants will allow the organizations receiving them to make a positive impact on the communities they serve.
“The proceeds from our first-time homebuyer mortgage loans make the funding for these grants possible,” Perrey said. “We at THDA feel it’s important to give back by helping organizations throughout Tennessee get the funding they need to make safe, decent, affordable housing a reality for individuals who might not have access to it otherwise.”
2020 THTF grantees, and the grant amounts they received, include:
Grant awardees have up to three years to complete their projects and must provide at least 50 percent of the grant’s amount in matching funds.
The Tennessee Housing Trust Fund (THTF) was created by the THDA board of directors to provide financial support for innovative, affordable initiatives that serve the housing needs of Tennessee’s most vulnerable residents.
Funding for the Tennessee Housing Trust Fund comes entirely from earnings generated through THDA’s Single Family Mortgage program. THTF grants are awarded through a competitive application process. Since 2006 THDA has provided over $73.2 million in THTF grants to local governments and nonprofit organizations across the state.