Nevada County Habitat for Humanity chapter gets $500K loan |

Nevada County Habitat for Humanity chapter gets $500K loan

GRASS VALLEY, Calif. and#8212; The Nevada County chapter of Habitat for Humanity has received a $500,000 loan to purchase and improve land for future home construction, Sen. Sam Aanestad’s office announced this week.

The loan is contingent on the funds being available from the Department of Housing and Community Development. It’s not clear when the money will be available from the state agency.

and#8220;It’s great news for Nevada County because all of this money will be spent locally,and#8221; said Debbie Arakel, executive director of the Nevada County chapter of Habitat for Humanity.

The loan will help pay for land and provide water, sewer and electrical hookups, streets and sidewalks for 16 new units, she said. The location of new homes has not been determined, though Arakel said the organization is looking at various sites.

Money for this loan comes from the state’s CalHome Program Development Loan Program, which was created from the 2006 passage of Proposition 1C, which provides housing and emergency shelter trust funds.

The same program has helped build homes on Ivy Street and North Church Court in Grass Valley.

and#8220;Affordable home ownership opportunities are quite rare in Nevada County, and loan funding like this will make a difference for several lucky families,and#8221; Aanestad said in a statement.

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