National Trust Loan Fund Awards Announced
By Caitlin Jones
2 min read
Tax Credit Advisor, December 2009: The National Trust Loan Fund has announced the award of $663,000 in grants to nine rehabilitation projects to help transform older and historic communities nationwide, from the Transformative Grant program of the National Trust for Historic Preservation (NTHP).
The projects will benefit service men and women in Columbus, Ga., teens “aging out” of the foster care system in Los Angeles County and the homeless Native American women and children in Duluth, Minn., among many others by focusing on affordable housing projects. Seven of the grants will support large-scale, affordable projects creating more than 170 units.
The Transformative Grant program provides funding to developers of older and historic real estate projects that have high community impact but are stalled or hampered by insufficient funding.
“The high quality of these projects, the historic resources they return to productive use, and the impact these projects will have on their respective communities is truly remarkable,” said Lauri M. Michel, NTHP Vice President of Community Revitalization. “The projects exemplify core values of the National Trust: that the reuse of historic buildings and reinvestment in existing communities to meet modern needs are key principles of sustainable development.”
Among the grantees and grant amounts are: LINC Housing Corp., Long Beach, Calif., $100,000, to renovate the former Palace Hotel into transitional housing for children who have aged out of foster care; Affordable Housing Solutions, Inc., Columbus, Ga., $100,000, to rehab the Empire Building into 23 one-bedroom apartments; and Landmark Investment Group, Wichita, Kan., $75,000, for payment for architectural fees, historic district nomination, and stabilization repairs for a low-income housing project. (http://www.preservationnation.org)
