Monday, March 29, 2010
Asheville Area Habitat Board and Staff Presents Keys to its 200th Family
Asheville Area Habitat for Humanity (AAHH) will celebrate the completion of its’ 200th house with a closing/ key presentation in the Enka Hills community on Tuesday, March 30 at 12 noon.
The event program will include a proclamation from the City of Asheville; a $350,000 check presentation by HomeTrust Bank who sponsored grant applications that help reduce Habitat family mortgages; words from Habitat board and staff members; remarks from the homeowner family, the Notebooms; and the official key presentation. Attorney Marc Rudow will walk Chad and Christa Noteboom through the closing documents and upon signing, house sponsors will present the keys to the Noteboom’s new home.
The 200th house was sponsored by Habitat’s own Board of Directors and Staff. “It took us 18 years to build our first 100 houses. It has taken only 9 years to build the second 100 houses. And we will build the next 100 houses in just 5 years,” notes Executive Director Lew Kraus.
Of course, increased house production requires increased funding. Habitat has been fortunate in recent years to receive funds from the Federal Home Loan Bank of Atlanta (FHLB), which is administered locally by FHLB-member HomeTrust Bank. Thirty-five Enka Hills homeowner families - including the Notebooms - have a $10,000 reduction in their mortgage, thanks to $350,000 loan from the FHLB.
AAHH’s Development Director Jim Lowder says, “HomeTrust Bank alerted us to FHLB’s Affordable Housing Program and sponsored our grant application. The resulting loans help homeowners because their mortgage is reduced by $10,000 and they can build equity faster. It also helps the organization because we get the funds upfront rather than spread over a 30 year period if it was in the mortgage. That means we can immediately begin using the funds to off-set construction costs.”
“HomeTrust Bank is proud to help Habitat fulfill their mission, and the $350,000 in grants we sponsored will help dozens of families own their own homes; it’s one more way we can give back to our community,” said Tony VunCannon, HomeTrust Bank CEO.
Since 1983, Asheville Area Habitat for Humanity has welcomed 200 Buncombe County families to safe, decent and affordable houses. Habitat homes, which are HealthyBuilt certified, are sold at no-profit to partner families, who pay back a no-interest loan.