Faith-Based Development Initiative (FBDI)
FBDI seeks to engage and assist the faith-based community in helping to ensure that people of all incomes have access to fit and affordable housing and community resources.
The FBDI is led by Enterprise, with the East of the River Clergy-Police-Community Partnership, Wesley Theological Seminary and Georgetown University as strategic advisors. It has invested more than $154.8 million in grants, loans and tax credit equity supporting 1039 affordable housing units and one community facility, with another 800 units in the pipeline.
The initiative’s work has included:
- More than $223,000 in grants supporting 14 projects
- More than $95.4 million in loans supporting six projects
- More than $54.75 million in Low-Income Housing Tax Credit equity supporting 614 units
More Information on FBDI
- If you are a house of worship interested in our initiative, please complete the FBDI intake form in Word, as a PDF, or online.
- Contact Jemima Otchere with questions about the intake form.
Read more about faith-based development in the May 2015 issue of Tax Credit Advisor magazine (used with permission).
If you have any questions regarding the Initiative, contact David Bowers.
- Predevelopment grant up to $10,000 with a 25-percent match to help faith-based organizations defray early development costs.
- Community loan products are offered through Enterprise Community Loan Fund
- Long-term mortgage loans for new construction and rehabilitation of affordable and market-rate multifamily housing is offered through Bellwether Enterprise
- Low-Income Housing Tax Credit (LIHTC) equity
- New Markets Tax Credits (NMTC)
- Preliminary property and market analyses and referrals to appropriate development experts
- Organizational assessments to strengthen the position of a faith-based development organization to seek funding
Partnership with Legal Services
Throughout the development process, FBDI provides access to pro bono legal services and can make referrals to experienced fee-based attorneys. Partnerships include:
- D.C. Bar Pro Bono Program
- Maryland Volunteer Lawyers Service
- American University Washington College of Law
- George Washington University Law School
- Georgetown University Law Center
- David A. Clarke School of Law at the University of the District of Columbia
Undergraduate and graduate student interns have been pivotal to the success of FBDI. Interns have worked on real estate and policy research, program evaluation and project case studies.
Watch our video below to hear from past FBDI interns, whose experience at Enterprise helped them prepare for full-time careers in affordable housing.
If you are interested in an FBDI internship, contact David Bowers.