DOF Lends a Hand to Gulf Coast Housing Partnership

GCHP is a nonprofit 501(c)(3) based in New Orleans and works throughout the Gulf South region. Gulf Coast Housing Partnership was established in early 2006 after Hurricanes Katrina and Rita devastated communities throughout the region. Their primary focus is on Louisiana and Mississippi with expansion into Alabama, Florida and Texas. Its mission is to revitalize the Gulf Coast through transformative development. By working in partnership with public, nonprofit, and private entities, GCHP will create vibrant, high quality communities which are socially and economically integrated, affordable and sustainable.

 

DOF provided $1,000,000 as part of a projected $30,000,000 project-based loan facility currently administered by GCHP and supported by PRIs, loans, lines of credit and recoverable grants.  The loan facility is structured to allow investment partners the flexibility to earmark proceeds to support one or more GCHP program areas, a specific geographic focus or a target   population. Loan funds sourced through DOF will be utilized for transactions that have a focus on assisting individuals with disabilities.