By Shannon Lukens. (Courtesy photo)
Craig Housing Authority and the Yampa Valley Community Foundation have been honored with the 2024 Secretary’s Award for Public-Philanthropic Partnerships. The recognition is from the U.S. Department of Housing and Urban Development. Only six groups from across the country were selected as a recipient of the award.
It has to do with the 8th Street Townhomes development affordable housing project in Craig which was funded with a below market-rate construction loan through Yampa Valley Community Foundation.
Tim Wohlgenant with YVCF and Craig City Manager and CHA Executive Director Peter Brixius accepted the award on July 11, at HUD headquarters in Washington, D.C.
The groundbreaking ceremony for the 8th Street Development project in Craig was April 19. It is a multi-housing project that is the the first project for the Craig Housing Authority. It’s on the site of the former property for Memorial Regional Health between 7th and 8th Streets, and Russell and Tucker Streets in Craig. MRH and Moffat County donated the property.
An Open House was last week to see the 8th Street Townhomes. Two- and three-bedroom unites are priced at $279,000 and $329,000 respectively for Moffat County households earning up to 140% of the Area Median Income.
Construction is on track and expected to be completed in mid-August. Presale reservations are now open through Cornerstone Realty. More information is also available through the Craig Housing Authority.
April 19, 2024 — 8TH STREET REDEVELOPMENT PROJECT IS CREATING HOMES FOR CRAIG RESIDENTS
Press Release from Yampa Valley Community Foundation; July 18,m 2024.
YAMPA VALLEY COMMUNITY FOUNDATION WINS NATIONAL HUD AWARD
(STEAMBOAT SPRINGS, CO, July 18, 2024) – The Yampa Valley Community Foundation (YVCF) and the Craig Housing Authority (CHA) are honored to be recognized with the 2024 Secretary’s Award for Public-Philanthropic Partnerships from the U.S. Department of Housing and Urban Development (HUD), in partnership with the Council on Foundations. Six organizations from around the country were selected as recipients of the award this year.
The award recognizes YVCF’s below market-rate construction loan and partnership with CHA for a 20-unit for-sale affordable housing project in Moffat County. The 8th Street Development will result in permanently deed-restricted 2- and 3-bedroom townhomes, ensuring they will continue to be affordable to low- and moderate-income households over an extended period of time and through a succession of owners. The project demonstrated multiple layers of innovation, including using modular homes from a Colorado manufacturer, launching CHA’s first project, and acting as a pilot of YVCF’s Impact Investment Program.
Tim Wohlgenant, YVCF CEO, and Peter Brixius, Craig City Manager and CHA Executive Director, accepted the award on July 11 at HUD headquarters in Washington, D.C.
“It was particularly gratifying to be a smaller organization from a rural area receiving this national-level recognition along with five other larger Foundations, and to have the opportunity to learn about the remarkable work being done by the other awardees,” said Tim Wohlgenant.
In its eleventh year, the HUD Award recognizes excellence in partnerships that have both transformed the relationship between the public and philanthropic sectors and led to measurable benefits in housing and community development, including increased economic opportunity, health, safety, education, workforce development, disaster resilience, inclusivity and cultural opportunities, and/or housing access for low- and moderate-income families.
“To ensure that families can access housing they can afford, we need all hands on deck – nonprofits, governments, and private partners alike,” said HUD Acting Secretary Adrianne Todman. “Today, we honor this year’s awardees and thank them for working with local partners to revitalize our communities and connect our people to affordable housing and critical services.”
About the Yampa Valley Community Foundation and its Impact Investment Program
The Yampa Valley Community Foundation believes in a thriving and connected Yampa Valley where there are opportunities and resources for all. We lead transformational change throughout the Yampa Valley by engaging donors in purposeful philanthropy, empowering local nonprofit organizations, inspiring impactful grantmaking, and collaborating to build vibrant communities.
YVCF’s Impact Investment program is a means of supporting local nonprofits and organizations by addressing the gap between their need for capital and what the private market will provide. It enables investment opportunities at rates of financial return that prioritize community benefit while generating modest returns that can be subsequently reinvested into another project. Learn more at: https://yvcf.org/impact-investing/
About the Craig Housing Authority
The mission of CHA is to provide safe, quality housing solutions that foster a vibrant community. The Townhomes at 8th Street is its first project, and units are available for prepurchase now. Learn more at: https://www.craighousingauthority.com/
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