OurMidland reports grants from two community development organizations have helped the United Athletes Foundation (UAF) launch their $100 million tax credit equity fund program to invest in low to moderate mixed-income residential rental properties throughout the nation, and encourage corporations to do the same. A 501 © (3), UAF is comprised of over 100 professional athletes whose board includes Reggie Howard, Hank Aaron, Jim Brown, Julius Erving, Ray Lewis, and Ambassador Andrew Young, and who are committed to enacting change for the less fortunate. Noting the number of severely cost-burdened families rose by 6.4 million from 2001 to 2010, providing assistance to these families not only gives them a decent place to live but also frees up funds for other necessities. One of the collaborators is Value Added Fund, LLC (VAF), whose “mission is to maximize community resources, create networks of sustained public/private partnerships, and support the vision and growth of low-income persons and communities nationwide.” MHProNews has learned the other is non-profit Capital Fund Services, a subsidiary of the Great Lakes Capital Fund, which provides pre-development loans and grants.
(Photo credit: Excel Homes)