One Roof Community Housing awarded a $666,000 U.S. Treasury grant to support fix-up and home rehab lending to homeowners in the Twin Ports.
Duluth, MN — One Roof Community Housing was awarded a $666,000 from the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund). The CDFI Program funding supports increased lending activity in low-income and economically distressed communities.
One Roof is one of 224 CDFIs nationwide that received a total of $166,291,088 in Financial Assistance awards.
“This grant significantly increases our capacity to help homeowners,” states Noah Hobbs, Lending Director. “These dollars are needed in Duluth given our aging housing stock and housing shortage, we can’t build enough housing unit to meet demand. However, we can improve existing units, and these dollars allow us to really chip away at that. Looking to build a deck, upgrade your kitchen or install energy-efficient appliances or windows, we can help. Have a water heater or furnace suddenly fail, we can help with that too.”
One Roof’s Lending program offers affordable loan programs for home improvement. Loans can assist homeowners in the City of Duluth, City of Superior and the surrounding vicinity at virtually any income level. Over the past 5 years, One Roof has made 510 loans to Twin Ports area homeowners totaling $7,283,525.
Learn more about One Roof’s Lending program at: www.1roofhousing.org/programs-services/repair-remodel/ .