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 Enterprise Mid-Atlantic office leads the FBDI in the region. Enterprise has directly invested more than $155 million in grants, loans and tax credit equity supporting FBDI developments. In total FBDI partners have developed over 1,500 new affordable housing units and one community facility housing a health clinic and banquet hall, with another 1,000 units of new affordable housing 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
Download our Faith-Based Development Fact Sheet
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 Rev. Joseph Williams 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).
- 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 Community Development Practitioners
Throughout the development process, FBDI provides access to “bullpens” of developers, development consultants, real estate attorneys and organizational development consultants that assist houses of worship in moving from a vision to a completed project.
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 Joseph K. Williams.