Enterprise Community Partners (Enterprise) has launched the Housing Ecosystem Grant Program, which will provide funding, training and technical assistance to support local organizations in the U.S. Virgin Islands developing affordable housing for residents. The program is made possible by a $400,000 grant from the Federal Home Loan Bank of New York (FHLBNY).
USVI-based private organizations (for-profit or nonprofit) with experience or interest in providing affordable housing in the territory can apply for this grant program. The Housing Ecosystem Grant Program will provide up to five local organizations with up to $100,000 in funding, while also offering curriculum-based training and networking programs to expand the organizations’ capacities for affordable housing development.
“Our partners in the U.S. Virgin Islands have long recognized the need for greater access to affordable housing in the community,” said Jelani Newton, senior director at Advisors at Enterprise Community Partners. “With this generous grant from the Federal Home Loan Bank of New York and ongoing engagement from our local partner organizations, we look forward to supporting several community-based organizations with the resources they need to help address the territory’s affordable housing needs.”
“The Federal Home Loan Bank of New York is proud to support Enterprise’s efforts to build capacity for community-based organizations to create more housing opportunities in the U.S. Virgin Islands,” said José R. González, president and CEO of the Federal Home Loan Bank of New York. “The launch of the Housing Ecosystem Grant Program marks an important step in addressing affordable housing needs to the benefit of so many households in the territory. We are thrilled to be able to support such a vital effort, and look forward to increased housing opportunities across the U.S. Virgin Islands.”
Enterprise has supported nonprofit engagement in the USVI since 2017. The organization’s work in the territory focuses on strengthening the capacity of community-based organizations, promoting community development efforts and furthering resilience goals, which have become especially important as the islands continue to recover from the 2017 Category 5 hurricanes Maria and Irma.
The U.S. Virgin Islands government provides most of the affordable housing in the territory, but greater private participation in housing and community development efforts locally can help meet the significant affordable housing need. Using Federal Home Loan Bank of New York’s grant, Enterprise will provide funding, training, and other supports to strengthen local organizations, in turn increasing their ability to provide much-needed affordable homes for residents.
Interested organizations must apply by June 15 using the online application form, which can be found here. Organizations selected for participating in the Housing Ecosystem Grant Program will be identified by July 1.
Application Form link: USVI Housing Ecosystem Development Grants | Enterprise Community Partners
About Enterprise Community Partners
Enterprise is a national nonprofit that exists to make a good home possible for the millions of families without one. We support community development organizations on the ground, aggregate and invest capital for impact, advance housing policy at every level of government, and build and manage communities ourselves. Since 1982, it has invested $64 billion and created 951,000 homes across all 50 states – all to make home and community places of pride, power and belonging. Join it at enterprisecommunity.org | Twitter: @EnterpriseNow
About the Federal Home Loan Bank of New York
The Federal Home Loan Bank of New York is a Congressionally chartered, wholesale bank. It is part of the Federal Home Loan Bank System, a national wholesale banking network of 11 regional, stockholder-owned banks. As of June 30, 2022, the FHLBNY serves 315 financial institutions in New Jersey, New York, Puerto Rico, and the U.S. Virgin Islands. The Federal Home Loan Banks support the efforts of local members to help provide financing for America’s homebuyers.