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CHP Receives $275,000 in Flexible Second Round Grant Funds

Christiansburg, Va. – Community Housing Partners (CHP), a member of the national NeighborWorks network, is receiving $275,000 in flexible grants – a much-needed affordable housing boost from NeighborWorks® America. Overall, NeighborWorks® organizationsin Virginia will receive $1.2 million in NeighborWorks® America grants this year. Working together, NeighborWorks® and NeighborWorks® organizations in Virginia will be responsible for leveraging $38.4 million reinvested in the community to create more economic development and affordable housing opportunities for Virginia citizens.

"This valuable funding will help CHP continue to create homeownership for lower-income families, produce and manage affordable, high quality rental properties, and revitalize and strengthen communities," said CHP President and CEO Janaka Casper.

In 2007, NeighborWorks America will provide over $75 million in grants to its national network of 238 nonprofit organizations operating in over 4,400 communities.

"For every one dollar spent on affordable housing at least $31 are returned to the community in the form of increased equity to start new businesses and pay for higher education, job creation and stability, increased independence and tax revenue creation, and more engaged citizens," said NeighborWorks® America CEO Ken Wade.

"As stewards of taxpayer dollars, NeighborWorks® ensures our investments are working in ways that truly make a difference," said Wade. "We thank Congress and our other private, philanthropic and public funders who make our work to empower consumers and strengthen neighborhoods possible."

For more information about NeighborWorks® America, please visit www.nw.org