CAHEC Connection: Your CAHEC Newsletter

The CAHEC staff dedicates time each year to volunteering in our community through various Team Outreach opportunities. As stewards and advocates for our community, we pursue initiatives that empower individuals and families, revitalize neighborhoods, and protect the environment. In 2016, our staff proudly served 1,003 hours at local organizations that offer services that closely align with CAHEC's mission. "CAHEC's commitment to community service is a hallmark of our organization." Dana Boole, President & CEO of CAHEC explained. "It's not just about completing hours, but rather, sharing our effort and skills with those who simply need a helping hand."

One organization popular with our staff is the Food Bank of Central and Eastern North Carolina. With food insecurity being a serious problem in our area, it has always been important to our staff to help people gain access to nutritious food throughout the year. We spend most of our time volunteering in their warehouse, where we sort and repackage bulk food items that later get distributed to agencies across NC. It's a rewarding effort that has an immediate impact on the families in our community.

Jim Chandler Joins Board of Directors

CAHEC is pleased to announce that Jim Chandler has joined the CAHEC Board of Directors effective January 1. Prior to his retirement in 2016, Jim dedicated 40 years to the Virginia Housing Development Authority, including the last 18 as the Director of Low-Income Housing Tax Credit Programs.

We are excited to have Jim as part of the CAHEC team and know his extensive background and expertise in our indutry will allow him to make a valuable contribution to the work we do in fulfilling our mission.

Our Mission in Action

Harrison Terrace in Marion, NC, recently received equipment through CAHEC's Rex Williams Wellness Grant and Technology Resource Grant. Both rooms look amazing and we're sure the residents will enjoy using the computer workstation, as well as the treadmill, stationary bikes, and free weights.

CAHEC recently awarded a $10,000 New Markets Community Grant (NMCG) to the Dunn Police Athletic & Activities League (PAL) on behalf of one of our New Markets Tax Credit investments - Rooms to Go Distribution Company. Dunn PAL will be using the funding to purchase upgraded technology, such as laptops, IPads, and a smart board, for their after-school Student Enrichment Resource Vocational Education (SERVE) program. We're looking forward to following the success of Dunn PAL and their SERVE program.

The Housing Trust Fund

A New Source of Gap Financing for Extremely Low-Income Housing

By: Dan Tatar, Regional Fund Development Specialist

The Housing Trust Fund (HTF) is a new federal source of funding to help finance housing for extremely low-income households. HTF dollars can be used to help close the financing gap in Low-Income Housing Tax Credit (LIHTC) developments.

In April of 2016, the U.S. Department of Housing and Urban Development (HUD) announced that $175 million would be available nationally for the HTF. The funding for this program does not come from a congressional budget process, but rather is capitalized through contributions from Fannie Mae and Freddie Mac. HUD, which will be administrating the program for the two government-sponsored enterprises, will make the individual state allocations. Then each state will designate an entity to administer the program at the state level.

2016 Triangle Tree Challenge Results

CAHEC, along with more than 50 other local nonprofits, participated in the 2016 Triangle Tree Challenge by decorating a tree at Diamond View Park on the American Tobacco Campus.

This year, our tree emphasized the growing demand for affordable housing across our footprint. We would like to thank our friends and partners for all of your votes! Although we did not bring home a prize this year, we're proud of your participation and appreciate all of your support. We are looking forward to brainstorming ideas for the 2017 tree!

Click here to view the 2016 winners.

CAHEC on the Road

CAHEC will be attending the following upcoming events:

Novogradac New Markets Tax Credit Conference - San Diego, CA - January 26-27
Alabama Housing Finance Authority QAP Workshop - Montgomery, AL - January 26