Grant made to boost affordable housing
The Fairfield County Community Foundation has made a leadership grant of $10,000 to the Local Initiative Support Corp. to strengthen and expand the Fairfield County Affordable Housing Network, which serves 22 people.
The network works to increase information sharing among groups to expose them to best practices and improve their effectiveness. The overall goals of the network are to stimulate and support the production of more affordable housing within Fairfield County. The LISC will continue to manage the network, comprised of local volunteer groups and municipal employees in communities where affordable housing activity is relatively new and needs expert support to be effective.
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The Stamford-Norwalk metropolitan area has the second most expensive rental market area in the nation. Fairfield County is known for its prosperity, but many families live in substandard housing or are homeless, according to the LISC. Others have quality housing, but at a cost that jeopardizes their economic stability, the LISC said in a release. Many who work in the county cannot afford to live there, traveling long distances to jobs, creating traffic congestion and draining energy they would otherwise give to their jobs, the LISC said.
"Fairfield County's prosperity and economic vitality depends on access to quality, affordable housing for our residents," said Karen Brown, vice president of programs at the Fairfield County Community Foundation. "Affordable housing impacts many other issues -- from traffic congestion to availability of a stable and well-trained labor pool -- and is and will remain among the greatest challenges facing our region."
Since 1980, the LISC has raised $12.9 billion to build or rehabilitate 288,580 affordable homes and develop 47.7 million square feet of retail, community and educational space nationwide, leveraging nearly $38.3 billion in total development activity across the nation.
The Fairfield County Community Foundation has awarded $151 million in grants to nonprofit organizations in Fairfield County and beyond.