A critical shortage of affordable housing in rural communities and on Native American lands is causing millions of families to live with the burden of high housing costs, double-up in poor quality homes, or struggle with homelessness.
Thanks to a strategic partnership with Fannie Mae, Enterprise is delivering a series of programs to arm stakeholders in these vulnerable communities with strategies and tools for addressing housing challenges.
For developers and owners of affordable housing in rural areas, Enterprise is conducting Rural Rental Preservation Academies in Colorado and the Pacific Northwest. The academies offer a series of no-cost training and peer learning sessions designed to help rural housing providers and nonprofits acquire and/or preserve USDA housing in their communities.
Additionally, Enterprise is hosting a regional series of virtual buyer-seller activities (which will support Colorado, Montana, and potentially Wyoming, Utah and Idaho), where existing owners of rural rental housing will have the opportunity to explore preservation strategies, including sale of these rental homes to owners committed to preserving their affordability. Interested buyers will have the opportunity to connect with sellers to begin a conversation about potential opportunities to preserve existing properties.
To advance tribal multifamily housing projects through the development pipeline, Enterprise is providing technical assistance and convening to tribal organizations focused on project financing and design. Participants will learn how to access LIHTC and other financing vehicles, receive guidance on revising existing designs to meet community needs, and come away with a clear set of next steps to move their projects to the next stage.
Lastly, Fannie Mae is partnering to support the Native Homeownership Learning Communities Cohort, made up of representatives from 18 housing-focused tribal organizations who are taking part in an 18-month intensive training and technical assistance program to increase homeownership in native communities.
In the end, our aim for both the rural and Native American programs is to equip communities with the knowledge and resources needed to help struggling families access quality, affordable housing and stabilize their lives.