Friday, March 18, 2011

Greccio Housing awarded $23,500

The Department of Local Affairs has announced that $23,500.00 in HOME CHDO Operating (HMCO) funds has been awarded to El Paso County for the following project:

Greccio Housing Unlimited, Inc. received a $23,500 CHDO operating grant to assist with development staff salaries to conduct due diligence for the development of and/or acquisition and rehabilitation of multi-family rental units in Colorado Springs. CHDO operating funds will be used for predevelopment activities including: researching and analyzing of financing options, evaluating proformas, reviewing contracts, coordinating legal documents, and evaluating property management options. Greccio incorporates many services through their Resident Enrichment Program including rent and utility assistance, transportation support, and food provision. In addition, Greccio assists its residents in becoming self-sufficient through financial literacy training, computer training, and employment assistance.