HOUSING ALLIANCE:* The local group that helps first-time home buyers get into La Plata County's competitive housing market is creating a nonprofit financial arm that could bring in millions of federal dollars.
The Regional Housing Alliance board of directors approved an agreement with La Plata Homes Fund Inc. on Wednesday, during its first meeting with new members from Bayfield. The approval allows the alliance to begin certifying the new fund as a non-profit organization.
The alliance works with families to make down payments on a home, and provides assistance and home-buyer classes in Bayfield, Ignacio and Durango.
Creating the fund as a tax-exempt nonprofit entity qualifies the alliance for federal money provided through the Department of Treasury's Community Development Financial Institutions Fund. The federal money would have to be matched dollar for dollar to be received locally.
The alliance has 100 families in home buyer classes and counseling.
*From the Durango Herald 09/05/08
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