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CHP Receives $75,492 Grant from NeighborWorks America

Christiansburg, Va. — Today Community Housing Partners (CHP), a member of the national NeighborWorks network, announced that it received $75,492 in flexible grants from NeighborWorks America, bringing CHP’s total for the year to $445,742. The funding will support CHP’s sustainable affordable housing and community development activities at a time when communities in the region need investment most.

“Thanks to NeighborWorks funding, CHP has been able to improve communities on an economic, social, and environmental level,” said CHP President & CEO Janaka Casper. “With this important grant we are continuing to grow our multi-family property portfolio; have revived our real estate department; increased the scale of our weatherization services; expanded our resident services offerings to more and more communities; and continue to design, construct, and rehabilitate quality, affordable homes,” added Casper.

In 2009, NeighborWorks America provided over $81 million in grants to its national network of more than 230 nonprofit organizations operating in over 4,400 rural, urban, and suburban communities, including CHP’s service areas in Virginia, Kentucky, North
Carolina, and Florida. The grants will be used to revitalize and strengthen communities by providing counseling for homeowners on the brink of foreclosure; increasing the number of certified homeownership counselors through training; stabilizing areas hardhit
by the foreclosure and economic crisis by putting vacant properties back into productive use; empowering consumers through financial and homeownership education and counseling; creating homeownership opportunities for low- and moderate-income families; and producing and managing affordable, high-quality rental properties.

"For every dollar in NeighborWorks grants, an additional $35 is in invested in America’s communities, resulting in a direct investment of nearly $4 billion in the areas served,” said NeighborWorks America CEO Ken Wade. “As good stewards of taxpayer dollars, NeighborWorks ensures our investments are working in ways that truly make a difference.”

The need for CHP has never been greater. With foreclosure rates in the southeast at unprecedented new levels, home values in sharp decline, and the unemployment rate rising rapidly, communities are increasingly more susceptible to, and affected by, foreclosure and the economic crisis.

CHP is a member of the NeighborWorks network, which was created by NeighborWorks America to improve homeownership opportunities for low- and moderate-income families, provide financial education and improve financial literacy, rebuild and repair
properties; develop affordable multifamily units, and, use innovative strategies to improve safety and revitalize communities across the nation. Collectively, NeighborWorks America and the NeighborWorks network have been able to:

• Invest nearly $15 billion in America's urban, rural, and suburban communities;
• Create the nation's largest force of certified homeownership education counselors and foreclosure intervention counselors;
• Provide homeownership counseling to more than 400,000 families;
• Assist more than 80,000 families of modest means to achieve their dream of homeownership;
• Develop, own and manage over 70,000 affordable, high quality rental units;
• Rehabilitate more than 80,000 homes using state-of-the-art methods, including green and healthy building techniques;
• Invest in rebuilding efforts in communities across the Gulf Coast; and
• Mobilize hundreds of thousands of volunteers to revitalize communities.

“We are grateful for the support from Congress and our other private, philanthropic and public funders who make our work possible. Although no one organization or sector can resolve the foreclosure crisis alone, NeighborWorks America is making a significant
contribution to this effort,” continued Wade.

For more information about NeighborWorks America, please visit www.nw.org, or contact Erin Angell Collins, 202-220-6317, ecollins@nw.org.