WASHINGTON – U.S. Senator Benjamin L. Cardin announced today that Salisbury Neighborhood Housing Service, Inc. will receive a $175,000 grant from the NeighborWorks network. The majority of the grant will be used for the Revolving Loan Fund to help families purchase a home.
NeighborWorks is part of the Neighborhood Reinvestment, a non-profit organization created by Congress in 1978 to provide financial support, technical assistance and training for community-based revitalization efforts. NeighborWorks provides flexible grants that can be used to leverage additional money. In Maryland, NeighborWorks organizations will be responsible for leveraging $19.6 million reinvestment in communities to create affordable housing opportunities in Maryland.
"Too many Marylanders are struggling to find affordable housing. This grant will help many Salisbury residents reach the American Dream of becoming first-time homeowners," said Sen. Cardin.
In fiscal year 2005, the Salisbury Neighborhood Housing Service used NeighborWorks grants to provide pre- and post-education and counseling for 150 low-income families seeking to buy a home.