Category: News

Today, the Community Development Financial Institution (CDFI) Fund, a division of the United States Treasury announced its awardees to participate in a new initiative between the CDFI and AmeriCorps an agency known for making “service to others” part of our national culture. NHSSF is honored to be among just three organizations selected from a nationwide grant process selected to deploy 10 AmeriCorps members in localities facing gentrification pressures, affordable housing shortages, poverty, financial services and food deserts among other pressing social and economic challenges.

This collaboration between AmeriCorps and the CDFI FUND is one step forward on what I hope will be a movement not just a moment in history but a movement to address the economic divides that threaten our democracy and our collective hope for a better future.

This year funding to CDFIs in response to C19 recovery is unprecedented and will likely exceed $1 Billion spread across multiple federal agencies to spur economic activity in the most critical sectors of our economy. I believe those of us working in and adjacent to public service are doing God’s work in making this experiment in democracy and an open economy work for all Americans. NHSSF is not only announcing how honored we are to be selected but also making it clear we can’t do this work alone. Our banking partners and other stakeholders will be instrumental in the success of this initiative.

We humbly share the good news.

Kimberly T. Henderson
President and CEO

More than $2.5 million invested to place 156 AmeriCorps members for two years in Community Development Financial Institutions

AmeriCorps and the U.S. Treasury Department’s Community Development Financial Institutions Fund (CDFI Fund) announced today (8/11/21) three Community Development Financial Institutions (CDFIs) were awarded more than $2.5 million through the inaugural round of the AmeriCorps CDFI Economic Mobility Corps (EMC) program. NHSSF is one of the CDFI among the awardees!

“Providing far-reaching access to credit and capital in distressed communities requires the presence of a dedicated and committed team cadre with experience in delivering a range of financial education services,” said CDFI Fund Director Jodie Harris.” Today’s EMC awards assists in building a deep bench of talent to help CDFIs deliver critical financial products and services in areas that are underserved by traditional financial services providers.”

A joint initiative of the CDFI Fund and AmeriCorps, this new national service program places full-time national service members in Certified CDFIs to support their work in distressed and underserved communities providing financial literacy, financial planning, budgeting, saving, and other financial counseling education.

“This partnership leverages existing strengths in responding to economic disparities. By using intentional educational programming these long-term community-based organizations will serve the people in their neighborhoods to build better economic fluency for them, their children, and so many more,” said Sonali Nijhawan, Director, AmeriCorps State and National.

In total, award recipients will receive approximately $1.27 million in grant funding each year for two years to support the placement of service members in CDFIs over a two-year period. For the two-year period, total award funding equals more than $2.55 million to sustain the placement of 78 AmeriCorps members each year. Of the 78 AmeriCorps members that will be placed in Certified CDFIs, 10 members (or 12.8% of all service members) will be located in Persistent Poverty Counties (PPCs).

As a result of their service, the AmeriCorps members supported by these awards are eligible for up to $989,000 in Segal AmeriCorps Education Awards to help offset college, trade or university expenses.

Authorization for EMC was provided by the Consolidated Appropriations Act, 2020 (Pub. L. 116-93), which also provided $2 million in funding to support the first round of EMC. An additional $556,416 in funds appropriated to AmeriCorps by the American Rescue Plan Act of 2021 (Pub. L. 117-2) is being used to support this round of the program.

Certified CDFIs receiving EMC awards and the number of service members supported annually by each organization’s award, include:

• LiftFund, Inc. (San Antonio, TX): $113,452/7 service members
• Local Initiatives Support Corporation (New York, NY): $992,800/61 service members
• Neighborhood Housing Services of South Florida, Inc. (Miami, FL): $171,956/10 service members

About the CDFI Fund

Since its creation in 1994, the CDFI Fund has awarded more than $3.9 billion to CDFIs, community development organizations, and financial institutions through the Bank Enterprise Award Program, the Capital Magnet Fund, the Community Development Financial Institutions Program, the Financial Education and Counseling Pilot Program, and the Native American CDFI Assistance Program. In addition, the CDFI Fund has allocated $61 billion in tax credit allocation authority to Community Development Entities through the New Markets Tax Credit Program, and guaranteed bonds for over $1.7 billion through the CDFI Bond Guarantee Program.

To learn more about the CDFI Fund and its programs, please visit the CDFI Fund’s website at www.cdfifund.gov.

About AmeriCorps

AmeriCorps, the federal agency for national service and volunteering, brings people together to tackle the country’s most pressing challenges. AmeriCorps members and AmeriCorps Seniors volunteers serve with organizations dedicated to the improvement of communities. AmeriCorps helps make service to others a cornerstone of our national culture. Learn more at www.AmeriCorps.gov.

About Neighborhood Housing Services of South Florida

Established in 1978, NHSFF is a certified Community Development Finance Institution (CDFI) and an accredited community development nonprofit serving South Florida residents for over 40 years. NHSSF is committed to advance prosperity for all South Floridians through Lending, Real Estate Sales, Housing Development, Home Buyer Education & Counseling, and Community Transformation. NHSSF is also a chartered member of the NeighborWorks® America. In this capacity, we are part of a nationwide network of over 240 chartered community development organizations and one of the twenty that serve Florida residents. NHSSF provides its full spectrum of homeownership services in English, Creole, and Spanish to assist potential homebuyers in reaching their homeownership goals. For more information visit us at: nhssf.org.

Volunteers of America National Services Selected Development Partner for New Affordable Senior Housing Site in Little Havana

FOR IMMEDIATE RELEASE:
August 2, 2021

ALEXANDRIA, Va./MIAMI, Fl., August 2, 2021—Volunteers of America National Services was selected by Neighborhood Housing Services of South Florida (NHSSF) to partner on a senior affordable residential housing project to be known as Freedom Pointe in Miami, Florida. The project is slated to be completed in 2024. VOANS is the wholly controlled nonprofit subsidiary of Volunteers of America created as the sponsor and parent entity for new Volunteers of America housing development projects.

Over 40 years, NHSSF has served Miami-Dade and Broward families and communities from its offices located in one of the culturally eminent neighborhoods in Miami: Little Havana. Only in the last five years, from 2015 to 2020, NHSSF has provided 150+ residential loans, developed 29 single-family units, created over 900 new homeowners through their homebuying educational & counseling programs, and contributed to an economic impact over $160 million across South Florida.

Little Havana, a historic and iconic neighborhood, is a symbol of inclusiveness and a testament to the immigrant synergy that built our city. In the same spirit, NHSSF decided to partner with Volunteer of America National Services to build a mixed-income affordable housing development on land currently owned by the nonprofit. The proposed project will include the demolition of the existing building at 300 NW 12th Ave., Miami, FL 33128, and new construction of mixed-use affordable housing for seniors, as well as office development, as NHSFF plans to maintain its headquarters in the newly developed building.

Consisting of 75 units for seniors, the property will be green oriented and will include supportive services to residents as well as a ‘health hub’ in the building. VOANS intends to implement its Aging with Options program, so that residents can safely remain in place as long as possible. Additionally, the fourth floor will include outdoor amenities such as a walking path, garden and patio area.

The demand of affordable housing in South Florida was already excruciating before the pandemic brought more pressure over it. Recent factors such as the current seller’s market, record-low housing inventory numbers, supply chain disruptions impacting construction prices, and the year-over-year rise in home prices alongside a growing population and a recovering economy reinforce the need for affordable housing options in a post-covid world. “With this new development, NHSSF is taking concrete measures toward alleviating the affordability challenges in the market,” said Kimberly Henderson, President & CEO of NHSSF regarding this new housing project.

“VOANS is thrilled to develop this site in Little Havana and work with NHSSF to provide on-site supportive services and amenities.  We are looking forward to revitalizing this site by creating new affordable housing while providing a safe healthy environment so residents can thrive.” said Sharon Wilson Geno, EVP and chief operating officer, Volunteers of American National Services.

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About Volunteers of America National Services

VOANS, part of the Volunteers of America family of organizations, provides affordable housing and healthcare services in over 40 states in Puerto Rico.  The organization employs over 3,100 professionals who provide high quality services and care to our clients.   As one of the largest non-profit affordable housing owner/operators in the nation, the VOANS portfolio includes over 240 properties and 15,000 affordable housing units. VOANS also operates over 46 senior healthcare programs, including skilled nursing, assisted living, home health care, adult day and Program for All Inclusive Care for the Elderly (PACE).  For more information on VOANS, please visit our website at www.voans.org.

About Volunteers of America

Volunteers of America, is a national, faith-based nonprofit dedicated to helping those in need live healthy, safe and productive lives. Since 1896, Volunteers of America supports and empowers America’s most vulnerable groups, including veterans, seniors, people with disabilities, at-risk youth, men and women returning from prison, homeless individuals and families, those recovering from addictions and many others. Through hundreds of human service programs, including the housing and health care services provided by VOANS, Volunteers of America helps 1.5 million people in over 400 communities. For more information, visit voa.org.

About Neighborhood Housing Services of South Florida

Established in 1978, NHSFF is a certified Community Development Finance Institution (CDFI) and an accredited community development nonprofit serving South Florida residents for over 40 years. NHSSF is committed to advance prosperity for all South Floridians through Lending, Real Estate Sales, Housing Development, Home Buyer Education & Counseling, and Community Transformation. NHSSF is also a chartered member of the NeighborWorks® America. In this capacity, we are part of a nationwide network of over 240 chartered community development organizations and one of the twenty that serve Florida residents. NHSSF provides its full spectrum of homeownership services in English, Creole, and Spanish to assist potential homebuyers in reaching their homeownership goals. For more information visit us at: nhssf.org.

Contact:

Laura Sildon, Volunteers of America National Services

240-447-3418 or LSildon@VOA.org

Juan Gordillo, NHSSF, 786-237-2122 or juang@nhssf.org