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IDF Partnership with Greeley-Weld Habitat for Humanity Supports New Development
LOVELAND, Colo. (December 30, 2019) – Impact Development Fund (“IDF”), a nonprofit community development financial institution, is pleased to announce it has partnered with Greeley-Weld Habitat for Humanity to support its predevelopment and construction activities within the City of Greeley, City of Evans, Town of Milliken and unincorporated Weld County.
Two Greeley-Weld Habitat for Humanity neighborhoods are currently underway bringing 39 affordable housing units to Greeley and Evans over the next two years. With one of the highest growth rates in the state of Colorado, the demand for affordable home ownership opportunities in Weld County is at an all-time high. IDF has committed $2 million in acquisition and predevelopment financing, of which $500,000 has been deployed to the organization for the infrastructure costs associated with the Mission Homestead development in Evans, CO.
“Greeley-Weld Habitat for Humanity has experienced tremendous growth in its building capacity and program development over recent years,” said Sean Doherty, Executive Director for IDF. “The Greeley-Weld affiliate embodies the passion and expertise necessary to bring affordable home ownership units to the market.”
“Impact Development Fund’s investment in Greeley-Weld Habitat for Humanity will allow us to continue the upward trajectory of land development and building housing production capacity,” explains Cheri Witt-Brown, Executive Director of Greeley-Weld Habitat for Humanity. “Significantly more local hard-working families will have an opportunity to achieve their dream of affordable home ownership made possible with this partnership. The $2 million investment from IDF will deepen our affordable housing impact in Weld County and move us closer to our goal of eradicating poverty housing. We are grateful IDF understands the value and importance of our multiple countywide affordable housing initiatives and have chosen to invest in Greeley-Weld Habitat for Humanity, and the communities we serve.”
