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The U.S. Department of Housing and Urban Development has awarded $7.3 million to Spokane-based Community Frameworks for constructing at least 393 low-income housing units in four states.
Community Frameworks, a nonprofit that develops and support affordable housing, will distribute the funds to 22 affiliates in Washington, Idaho, Montana, and Oregon, says Chris Venne, the agency's development finance manager.
The funds will be used for land acquisition or infrastructure improvements for projects that qualify under HUD's Self-Help Homeownership Opportunity Program requirements, Venne says.
Completed units will be sold at discounted prices to low-income homebuyers who participate in the construction of the homes, earning what HUD calls sweat equity, or self-help credit, Venne says.
Community Frameworks expects to start awarding the funds this fall. Projects would be finished within three years.
Community Frameworks is one of four organizations nationwide to be awarded $26.7 million in self-help program grants, to produce 1,500 units.
HUD says Community Frameworks has helped its affiliates construct 922 self-help homes in the last five years, including 458 homes in Washington. Another 621 units are under construction in the four states.