Enterprise announced $23.7 million in Phase 2 funding to support 32 Detroit nonprofits that serve or are led by Black, Indigenous and People of Color (BIPOC) through two foundation-backed initiatives, the Community Development Organization (CDO) Fund and Elevating Community Development Organization (ECDO) Fund.
Across the country and in Colorado, we simply cannot build our way out of the affordable housing crisis. Preserving our supply of currently affordable homes is an essential strategy to one day ensure everyone can stably afford a home in their own community.
In addition to building new homes, we must also preserve the affordability of currently affordable rental homes through recapitalization, acquisition, rehabilitation, and adaptive reuse.
In partnership with the State of California’s Department of Housing and Community Development and with funding from Kaiser Permanente, Blue Shield of California and the Chan Zuckerberg Initiative, Enterprise will deploy $46 million to support operating costs and wraparound services for more than 2,300 homes assisted by Project Homekey.
Our new 3-year DEI strategic plan outlines what we will do to increase and improve the participation of diverse suppliers, service providers, and partners to our work.
The Low-Income Housing Tax Credit, otherwise known as the Housing Credit, is the nation’s number one tool for financing the production and preservation of affordable rental homes. So how can we expand access to this crucial tool for Black, Indigenous, and People of Color (BIPOC) and other historically marginalized housing providers?