Enterprise Community Partners and Federal Home Loan Bank of New York has announced its second round of grants available for affordable housing providers in the U.S. Virgin Islands. For the second year, the Housing Ecosystem Development Grant Program will offer funding, training and technical assistance to support up to five local USVI organizations developing affordable housing.
Enterprise Community Partners (Enterprise) announced that the application period for the U.S. Virgin Islands (USVI) Housing Ecosystem Development Grant Program will open June 1. In its second year, the program will again provide funding, training and technical assistance to local organizations in the USVI developing affordable housing for residents.
The program is made possible by a $500,000 grant from the Federal Home Loan Bank of New York (FHLBNY).
Through the USVI Housing Ecosystem Development Grant Program, up to five local organizations will receive grants of up to $100,000, along with networking programs and curriculum-based training, with a goal of expanding the organizations’ capacities for affordable housing development. USVI-based private organizations (for-profit or nonprofit) with experience or interest in providing affordable housing in the territory are eligible for this grant program.
Last year’s grant recipients represented each of the territory’s three major islands, and each grantee participated in various training and networking events hosted by Enterprise and the Federal Home Loan Bank of New York throughout the year. These activities aimed to help build knowledge, networks and access to resources for the grantees as well as local stakeholders with the ultimate goal of promoting growth in the USVI affordable housing ecosystem.
“Our goals for the second year of the USVI Housing Ecosystem Development Grant Program are to expand the network of local housing providers participating in the program and to continue to support both rounds of grantees as they work to increase access to affordable housing in the territory,” said Jelani Newton, senior director of Advisors at Enterprise Community Partners. “We are grateful to the Federal Home Loan Bank of New York for this grant and very excited about our continued partnership.”
“Access to a safe, healthy and affordable place to live is vital to stronger households and communities, ” said José R. González, president and chief executive officer of the Federal Home Loan Bank of New York. “That is why we are thrilled to once again join Enterprise Community Partners to support the USVI Housing Ecosystem Development Grant Program.
“By helping create more avenues to and providers of affordable homes in the territory, we ensure we serve the entire footprint of our district while meeting the integral affordable housing and community investment component of our mission.”
Since 2017, Enterprise has actively supported housing and disaster recovery initiatives in the U.S. Virgin Islands, with a focus on strengthening the capacity of community-based organizations, advancing community development projects, and promoting resilience—especially critical as the islands continue to recover from the devastating 2017 hurricanes Maria and Irma.
Although the U.S. Virgin Islands government is the primary provider of affordable housing locally, increased private sector involvement in housing and community development is critical to address the significant demand for affordable homes. The USVI Housing Ecosystem Development Grant Program empowers local organizations and enhances their capacity to deliver more much-needed affordable housing for USVI residents.
Interested organizations must apply by June 30, 2024, using the online application form, which can be found below. Organizations selected for participating in the Housing Ecosystem Grant Program will be identified by July 31.
Application Form link: https://www.enterprisecommunity.org/news/enterprise-announces-usvi-housing-ecosystem-development-grants
