The U.S. Department of Housing and Urban Development (HUD) announced that it will provide $27 million in grants to produce 1,500 new affordable homes through the Self-Help Homeownership Opportunity Program (SHOP). The Self-Help Homeownership Opportunity Program (SHOP) program provides federal grants to national and regional nonprofit organizations that have experience with self-help housing programs.
As stated by the U.S. Department of Housing and Urban Development (HUD) the following organizations will receive the Self-Help Homeownership Opportunity Program (SHOP) funds:
|
Recipient |
Headquarters |
Amount |
| Community Frameworks | Bremerton, Washington |
$7,361,863 |
| Habitat for Humanity International | Americus, Georgia |
$15,369,750 |
| Housing Assistance Council | Washington, DC |
$3,131,489 |
| Tierra del Sol Corporation | Anthony, New Mexico |
$866,898 |
|
TOTAL |
$26,730,000 |
The funding must be used to improve the quality of the land or the infrastructure, but the cost cannot exceed an average of $15,000 per home. The buyers must also contribute a minimum of 100 hours of “sweat equity” on the construction of their homes or other local self-help housing programs. Self-help housing or sweat equity involves the homebuyer’s participation in assisting in the painting, carpentry, trim work, drywall, roofing and siding for the housing. The self-help program lowers the cost to build the homes, making the housing more affordable.
More information about Self-Help Homeownership Opportunity Program (SHOP) funding can be found here: http://portal.hud.gov/hudportal/HUD?src=/press/press_releases_media_advisories/2011/HUDNo.11-122
