Foothills CDC Awarded HOME Grant from THDA
Funds will help construct affordable homes
July 2, 2024 – Tennessee Housing Development Agency awarded a $813,200 grant to Foothills Community Development Corporation that will be used to construct new single-family housing in Blount County.
Foothills was one of two Community Housing Development Organizations (CHDOs) statewide that received a HOME CHDO grant from THDA.
“This grant will allow Foothills CDC to build housing that is both affordable and safe for homeowners of moderate means,” THDA Executive Director Ralph M. Perrey said. “Affordable housing is needed now more than ever in East Tennessee, and these homes will help those who need it most.”
Foothills plans to use the funds to construct four single-family homes located in Blount County. Construction on the homes is expected to begin later this year.
“We are grateful to have this opportunity and it’s going to be a game changer for us and our ability to build more homes for our community,” Foothills Community Development Corporation Executive Director Stephanie Wesson said. “We’re a small affiliate and we’ve been building one house a year for the last few years, so it’s going to allow us at a minimum to double the amount of homes we’re building.”
Once construction is completed, Wesson said the homes will be sold by Foothills to families or individuals who qualify. Proceeds from those sales will be used to fund the construction of four additional in-fill homes in Blount County.
Wesson said the homebuyers, as well as local volunteer groups, will help construct the homes.
The HOME Program is funded by the U.S. Department of Housing and Urban Development. HOME funds are allocated by THDA through a competitive application process to smaller cities, counties and non-profit organizations. Urban areas and local participating jurisdictions receive their funding directly from the federal government.
HOME grants must be used for the production, preservation, or rehabilitation of affordable housing for low and very low income families and individuals.
