Ability Housing, a Jacksonville-based nonprofit developer of affordable housing, announced Wednesday the launch of a fund that will help boost its work in Northeast and Central Florida.
LIVE: DCPS board discusses possible changes to Master Facility Plan in workshopa Jacksonville -based nonprofit developer of affordable housing
According to a release, the fund was possible thanks to an initial investment of $3.75 million from the Capital Magnet Fund , a grant program provided by the Department of the Treasury’s Community Development Financial Institutions Fund, and was leveraged with an additional $950,000 from the State of Florida.
“With a growing population across Florida, and new affordable housing resources available, it is imperative we have the flexible capital necessary to create more housing,” said Shannon Nazworth, President & CEO of Ability Housing. “Once fully capitalized, this fund will make us a more capable and efficient leader in the affordable housing sector. Several and varied organizations have already shown great interest in supporting this effort.
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