JACKSONVILLE, Fla. — Ability Housing, a Jacksonville-based nonprofit focused on developing affordable housing, has announced the creation of the Ability Housing Affordable Housing Fund to support its efforts in Northeast and Central Florida.
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The fund begins with an initial investment of $3.75 million from the Capital Magnet Fund (CMF), a grant program under the U.S. Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund, supplemented by an additional $950,000 from the State of Florida.
This new fund will provide Ability Housing with low- or no-interest predevelopment loans, allowing the organization to maintain a strong pipeline of projects and speed up the creation of affordable housing units for those in need across the region.
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