| Leviticus 25:23 Alternative Funds |
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A young mother who earns minimum wage at an office job has just turned the key to the door of her first home. As her two children excitedly explore their new apartment, she breathes a quiet sigh of relief. Thanks to the efforts of a Westchester County nonprofits affordable housing developer, she finally has an afffordable rental unit in which to raise her children with dignity.
An 80 year old widower on a limited income is also breathing a sigh of relief. He has just learned that at his new home – located in an affordable senior housing project built by a Westchester County nonprofit housing developer – he will be able to share meals with his new housemates. He hated the isolation and loneliness of living alone. The lives of low and fixed income residents are vastly improved when they are able to live in safe, welcoming homes that are affordable.With the help of a $10,000 grant from the Westchester Community Foundation, Leviticus 25:23 Alternative Fund,a regional community development funder, is providing loans and leveraging federal dollars to lend to local nonprofit affordable housing developers. In 2008, Leviticus lent over $1.3 million to Westchester-based nonprofit organizations, which will generate 47 new affordable housing units, renovate of 185 existing units, and result in countless more sighs of relief. |