How We Do It
Financially Self-Sustaining Affordable Housing Developments
Unlike many nonprofit organizations, CHR Partners does not rely on donations or other philanthropic support to operate. Each of our multi-family communities is financially self-sufficient, allowing CHR Partners the freedom and flexibility to provide a broad range of services tailored to the needs of the residents we serve.
The Low Income Housing Tax Credit Program is the primary funding component in the development of our multifamily properties. This program is a highly competitive and applicants are subject to rigorous review of all proposed developments. This program allows CHR Partners to develop the highest quality housing and rent below market rate for our families living in poverty.
leveraging tax credits
CHR operates within a powerful, financial sustainability model
Once CHR’s proposal is selected, the state awards us Housing Credits needed to construct the residences, and we sell these credits for cash to investors who wish to reduce their taxes. The cash we receive goes toward the mortgage needed to build the apartments, and the savings make it possible for CHR to offer restricted, reduced rents for low income residents.
Not only do Housing Credits make it possible for nonprofit organizations like CHR Partners to develop, build and operate high quality affordable housing communities, Housing Credits also generate additional investments in some of the highest need parts of America.