Grant to launch new workforce homebuyer assistance program in Garfield County | PostIndependent.com
YOUR AD HERE »

Grant to launch new workforce homebuyer assistance program in Garfield County

GLENWOOD SPRINGS, Colorado – The Garfield County Housing Authority will offer its first-ever down payment assistance program to help area workers buy homes, thanks to a $25,000 grant from the Colorado Association of Realtors Housing Opportunity Foundation.

The local housing authority will match the grant with other available funds to establish the new revolving loan fund, according to Geneva Powell, executive director of the GCHA.

“This is a first for us as far as being able to offer down payment assistance,” Powell said Tuesday. “We had the opportunity to apply for this grant, and saw it as a good chance to get this program started.”



The local grant was part of a larger $100,000 Ira Gribin Workforce Housing grant from the National Association of Realtors. Additional grants went to six other Colorado housing organizations to provide down payment assistance to help workers purchase homes in the communities where they work.

Other recipients included:



• La Plata Home Funds, $25,000

• Estes Park Housing Authority, $10,000

• Loveland Housing Development Corp., $10,000

• City of Longmont, $10,000

• Eagle County Loan Fund, $10,000

• Summit Combined Housing Authority, $10,000

The GCHA program will provide down payment assistance to qualified homebuyers between Basalt and Parachute for 3 percent of the purchase price up to $10,000 per family. Applicants must also be employed within the program service area at least 30 hours per week.

Loan funds will be repaid upon sale or refinance of the home under a shared equity model, Powell explained.

“We couldn’t be more delighted to receive these funds for moderate income homebuyers in our community,” she said.

The CARHOF has been providing grants to nonprofit and public housing agencies for 20 years. This year, the foundation donated $375,500 to 94 organizations. Since its inception, CARHOF has donated more than $7 million.

For more information about the local program, visit http://www.garfieldhousing.com, or call GCHA at 945-3072 in Glenwood Springs or 625-3589.

jstroud@postindependent.com


Support Local Journalism

Support Local Journalism

Readers around Glenwood Springs and Garfield County make the Post Independent’s work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.

Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.

Each donation will be used exclusively for the development and creation of increased news coverage.

For tax deductible donations, click here.
 

Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.

User Legend: iconModerator iconTrusted User