The National Rural Housing Coalition released its 2017 impact report, Measuring the Economic and Human Impact of Nonprofit Organizations in Rural America, providing information and data to policy makers and the public on the impact nonprofit housing organizations have on their communities.
Nonprofit organizations play a key role in meeting the economic and housing needs of rural communities. These organizations assist communities in planning, developing, financing, and constructing single-family and multi-family housing, water and wastewater systems, and community facilities.
Based on a survey of 104 NRHC nonprofit members, the report estimates these organizations helped low income families and rural communities secure $1 billion in financing to build, purchase, preserve, or rehabilitate more than 6,500 affordable homes and improve access to water and sewer systems for nearly 140,000 families in FY16. These activities led to the creation of nearly 14,000 jobs, generated nearly $820 million in income, and increased tax revenues by $442 million.
The report also highlights the role of key federal housing programs in financing affordable homes in rural areas. The direct loan and loan guarantee programs at the U.S. Department of Agriculture comprised the largest share (45%) of total financing for affordable homeownership, followed by mortgages secured through the Department of Veterans Affairs and the Federal Housing Finance Agency (25%). Just 14% of homeownership financing was secured through conventional lending.
The largest share of financing for rural rental housing was the Low Income Housing Tax Credit (Housing Credit) at 44%, followed by direct and guaranteed rental loan programs at USDA at 22%. HUD resources accounted for less than 3% of the total rural rental housing financing.
Read the report at: http://bit.ly/2o06nTW