Westside Future Fund (WFF) is grateful to be among the recipients of the Arthur M. Blank Family Foundation’s $22.4 million in grants supporting affordable housing and financial inclusion on the Westside. WFF is one of three grant recipients, receiving $10 million to support Our Next Chapter campaign aimed at raising $55 million to accelerate our affordable housing targets established in 2017: 1,500 high-quality affordable units serving families at 60 percent AMI and less, 250 new single-family homes with down payment assistance for mortgage-ready buyers, and the establishment of the Anti-Displacement Tax Fund for legacy resident homeowners.
With this gift from AMBFF, the organization is one step closer to its campaign goal of $55 million in philanthropic support, with which WFF will be able to leverage an additional $45 million in low-cost financing from its Impact Fund. An additional $10 million in public grants will help the organization finance:
- 285 multifamily units, of which 185 will serve families at 60% Area Median Income (AMI) and less.
- 225 single-family homes with accompanying income-qualified down-payment assistance, and
- Supporting the Anti-Displacement Tax Fund to help legacy resident homeowners stay in the community
Through its signature program Home on the Westside, WFF’s community retention guidelines prioritize legacy and future residents with live, work, and learn connections to the historic Westside. The program’s three service areas include single-family homeownership, rental housing, and property tax assistance for legacy residents. You can hear more from the residents WFF serves here.
To learn more about how you can support WFF’s Our Next Chapter campaign, email: John@westsidefuturefund.org.