The NeighborWorks network includes leading affordable housing providers, such as Neighborhood Housing Services (NHS) of Southwest Wisconsin and NeighborWorks Home Partners of St. Paul (NWHP).
In 2014, NHS was designated a NeighborWorks Green Organization, one of a select group setting the standard for sustainable development. MMCDC has provided a $150,000 construction loan annually for three years to NHS, w
hich is repaid when each new home is purchased. “Working with someone within the Network made our loan go more smoothly,” NHS Executive Director Terry Testolin said.
NWHP had capacity to meet growing needs for low-cost financing for home improvement in urban neighborhoods, but needed additional lending capital. “I told some of the folks at NeighborWorks America about this opportunity to reach more homeowners, and they put us in touch with MMCDC,” said Jason Peterson, NWHP’s executive director. MMCDC has approved up to $1 million in loans.
