Contact: Jaime Segui, [email protected]
WASHINGTON D.C. – The Latino Economic Development Center (LEDC) has been awarded a $185,000 grant from the National Fair Housing Alliance’s (NFHA) Inclusive Communities Fund Grant program to help people access equitable housing opportunities and promote stable, healthy, viable communities. These funds were made available as part of last year’s historic settlement with Fannie Mae that provided $35 million to promote homeownership, neighborhood stabilization, access to credit, property rehabilitation, and residential development.
“LEDC is pleased to receive this grant award and put it towards a one-time grant of up to $5,000 in down payment assistance to create meaningful impact for low-to-moderate income prospective first-time home buyers in Prince George County, Maryland,” said Walda Yon, Chief Housing Programs Officer at LEDC. “The housing market in Prince George’s County has changed dramatically; increased property values in recent years and the financial impact of COVID-19 are making it very difficult for low-to moderate-income families to have enough funds for a down payment and closing costs,” Yon added.
The Inclusive Communities Fund Grant Program invests fair housing settlement funds intended for community relief into neighborhoods or populations that have been destabilized by housing discrimination. The Inclusive Communities Fund empowers all individuals to access safe, sustainable housing of choice; creates inclusive, healthy, and well-resourced neighborhoods; and addresses systemic barriers that limit equitable housing opportunities for everyone.
“Too many neighborhoods have been destabilized by systemic housing discrimination. We are ready to invest in these areas to rebuild communities of color,” said Lisa Rice, President and CEO of NFHA. “By partnering with LEDC, we will revitalize block after block, the neighborhoods most impacted by the 2008 mortgage crisis, and build more inclusive and equitable communities. We look forward to working with our partners to ensure everyone has access to safe, sustainable, and fair housing choices and well-resourced neighborhoods.”
This grant will allow LEDC to offer a Down Payment Assistance Program to support low-to-moderate-income first-time home buyers in Prince George’s County with a one-time grant of up to $5,000 in down payment assistance. The amount of assistance will be 1% of the purchasing price which will benefit approximately twenty (20) families or individuals purchasing property in Prince George’s County. Funds are available for a limited time and awarded on a first-come first-served basis, not guaranteed or able to be reserved.
For more information on this initiative, please email us at [email protected].
The Latino Economic Development Corporation (LEDC) is a non-profit, tax-exempt (501(c) (3) status) community development organization founded in 1991. LEDC’s mission is to serve as a catalyst that drives the economic and social advancement of low - to moderate-income Latinos and other underserved communities by equipping them with the skills and tools to achieve financial independence, acquire business and personal assets, create generational wealth, and become leaders in their communities.
The National Fair Housing Alliance (NFHA) is the country’s only national civil rights organization dedicated solely to eliminating all forms of housing and lending discrimination and ensuring equal opportunities for all people. As the trade association for over 170 fair housing and justice-centered organizations throughout the U.S. and its territories, NFHA works to dismantle longstanding barriers to equity and build diverse, inclusive, well-resourced communities.