South County Housing, a nonprofit affordable housing developer
based in Gilroy that serves the Hollister area, was awarded a $1
million federal grant for the development of affordable housing in
Santa Clara, San Benito and Monterey counties.
South County Housing, a nonprofit affordable housing developer based in Gilroy was awarded a $1 million federal grant for the development of affordable housing in Santa Clara, San Benito and Monterey counties.
On October 14, the director of the U.S. Treasury Department’s Community Development Financial Institutions Fund, Donna J. Gambrell, and the Treasury’s deputy assistant secretary for small business, housing and community development, Don Graves, Jr., joined Congresswoman Barbara Lee in Oakland to present 23 organizations nationally with a total of $80 million in grants for the development of affordable housing in low-income communities.
Dennis Lalor, president and CEO of South County Housing, received the award on behalf of the nonprofit.
“In these times of economic distress, particularly in the housing market, the lack of available development capital has made the provision of affordable housing extremely difficult; yet, the need for affordable housing has only increased,” he said in a statement. “By providing this generous grant funding to nonprofits and CDFIs, the U.S. Department of Treasury has opened the door for many stalled housing developments to proceed, creating jobs in the process as well as much needed affordable housing. With high unemployment and foreclosure rates, now more than ever the nation needs this inflow of capital to house those in need.”
Incorporated in 1979, South County Housing is a 501(c)(3) nonprofit public benefit corporation that provides affordable housing and services for lower-income households.