Nonprofit Affordable Housing Developers Say They’re in Dire Straits

Finance & Commerce reports that nonprofits in the Twin Cities are doubling down on their efforts to receive state funding.

Nonprofit affordable housing developers in the Twin Cities have joined forces to form the SHARE (Stable Housing Alliance for Recovery and Equity) Coalition as they lobby the state leaders for funding they say ensures the stability of their organizations, reports J.D. Duggan of Finance & Commerce.

The organizations in the coalition include Aeon, Catholic Charities, CommonBond Communities, and Project for Pride in Living.

The nonprofits have been hit with severe challenges, including rising operating costs and the expiration of emergency rental assistance. Without new funding from the state, they may have to look at selling parts of their portfolios, according to the news story.

For more, click on the link to read Duggan's article.