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In one of his final acts as the nation’s housing policy chief, Department of Housing and Urban Development (HUD) Secretary Julián Castro awarded $10 million in so-called “sweat equity” grants to four non-profit self-help housing organizations through HUD’s Self-Help Homeownership Opportunity Program (SHOP).
According to a HUD statement, the new funding will create at least 539 affordable homes and significantly lower their purchase price for low-income buyers, who will contribute their own labor toward the construction or rehabilitation of these units. The organizations receiving funds are Community Frameworks ($1,676,280), Habitat for Humanity International ($5,898,895), Housing Assistance Council ($1,145,625) and Tierra del Sol / Western States Housing Consortium ($1,279,200)
“Our SHOP grants help advance a fundamental ideal: that every American deserves the chance to build a brighter future by combining opportunity with their own hard work,” said Castro. “We’re proud to help hundreds of families secure an enduring cornerstone of the American Dream.”