Four Affordable Housing Program (AHP) applications prepared by Travois were successfully awarded funds in January, totaling $2,208,106. This grant money will go toward the construction or rehabilitation of 135 housing units for American Indians in the states of North Carolina, North Dakota and South Dakota.
The Lumbee Tribe of North Carolina will receive $1 million, the largest single amount Travois has successfully obtained in AHP funding, from the Federal Home Loan Bank of Atlanta. Through the Federal Home Loan Bank of Des Moines, the Fort Berthold Housing Authority will receive $500,000, and the Dakota Nation Housing Development Corporation will receive a total of $708,106 for two housing projects.
“Used alone or in conjunction with the Low Income Housing Tax Credit program, the Affordable Housing Program is a great tool to lessen the housing crisis in Indian Country,” said David Bland, chairman of Travois. “We are proud to have played an important part in raising these funds.”
The Lumbee Tribe will use the $1 million to rehabilitate 31 duplexes (62 units) in its Hawkeye Sands project. New energy efficient and operational windows, new doors, new kitchen cabinets and countertops, new vanities, electrical upgrades to accommodate clothes dryers, and new interior paint will be included in the rehab. Thirteen of the units will be set aside to serve the homeless, and the rest of the units will house low-income tenants. Lumbee Guaranty Bank was the sponsoring member institution.
The Fort Berthold Housing Authority of North Dakota will put its grant money toward a new construction project consisting of two apartment buildings with a total of 28 units. All 28 units will be set aside for the elderly. Lakeside State Bank of New Town, N.D., was the sponsoring member institution.
The Dakota Nation Housing Development Corporation will receive AHP funds for two of its projects for the Sisseton-Wahpeton Sioux Tribe. Barker Hill Homes, a new construction project on the Lake Traverse Indian Reservation in South Dakota, will receive $358,106 in grant money for 21 single-family detached homes. Dakota Magic Homes, a one-story multifamily apartment building, will receive $350,000 for the construction of 24 units on the North Dakota side of the Lake Traverse Reservation. Wells Fargo Bank, National Association, was the FHLB member institution that sponsored the applications.
The housing authorities/development corporation will use the extra subsidy to reduce or eliminate the need for tribal funding in their projects.
AHP is a competitive program that provides grants and subsidized loans to support affordable rental housing and homeownership opportunities. Member banks partner with developers or community organizations to finance the purchase, construction or rehabilitation of low-income or moderate-income housing. AHP funds can be used in combination with other programs and funding sources, including the LIHTC program and NAHASDA. To view the full list of award recipients from the Des Moines Round B, click here. To view the full list of awards from the Federal Home Loan Bank of Atlanta, click here.
Travois has assisted 15 tribes with 30 successful AHP applications, helping them to receive more than $12.4 million in AHP funding to build or rehabilitate Indian Country housing.
About Us
Since 1995, Travois has been the leading housing consulting firm in Indian Country, working with tribal clients to alleviate housing shortages and rehabilitate substandard homes. Travois has helped clients to build or rehabilitate more than 3,000 homes in states stretching from Maine to Washington and has brought in $300 million in investor equity using the Low Income Housing Tax Credit program. Travois also offers asset management and design and inspection services. In addition, Travois New Markets is working to invest $30 million in New Markets Tax Credits in economic development projects in Indian Country. The 9th Annual Travois Indian Country Tax Credit Conference will be held Aug. 17-19, 2009, at the Hyatt Regency Tamaya Resort & Spa in Santa Ana Pueblo, N.M. For more information, please visit www.travois.com.