Habitat for Humanity receives $1.8 million dollar loan to build 10 Kent County homes | Community Spirit
Habitat for Humanity of Kent County is one of 10 Habitat affiliates nationwide to share $20 million of New Markets Tax Credits. Habitat of Kent County's share will be $1,880,000 in Qualified Low Income Community Investment (QLICI) loan from CEI Capital Management.
The money will be used to build 10 homes in a distressed area of Kent County. According to a news release, the homes must be in an area where poverty rates are between 25.9% and 40.6% and unemployment is 1.45 to 3.71 times the national average.
The homes will range in size from 1230 to 1530 square feet and be completed between now and December of 2013.
You can find out more information at HabitatKent.org.