Lewis & Clark Development Group has received a $512,000 grant from NeighborWorks America. The grant award is part of a package of grants allocated to the organization’s 239 chartered nonprofit members throughout the United States.
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eighborWorks America is a congressionally chartered, national, nonpartisan nonprofit that provides access to homeownership, safe and affordable rental housing, and other community-building services. The organization responsibly stewards the federal and other investment funds entrusted to it to help individuals, families and communities thrive through comprehensive approaches to affordable housing and community development.
This year’s core NWA grant is an increase of $80,000 from the $432,000 grant LCD Group received in federal Fiscal Year 2022. The increase comes at the same time LCD Group through its subsidiary, CommunityWorks North Dakota, is expanding its impact on the state through its programs, including its ever-expanding property management services.
NWA grant dollars making an impact
In 2022, LCD Group was able to use its NWA grant to address North Dakota’s affordable housing needs by…
- Managing and/or owning 527 multi-family units.
- Providing $549,195 in support through programs that resulted in the purchase of 24 single-family homes.
- Financing three home rehabilitations totaling $85,597 and providing $94,760 in refinancing assistance.
Over the last two years, LCD Group has maximized its NWA grant to save 175 multi-family affordable housing units and create another 35 units in North Dakota. According to LCD Group Executive Director Brent Ekstrom, the organization currently has 40 multi-family units in development.
“All of this is possible because of the grant dollars we receive from NeighborWorks America,” says Ekstrom. “If not for these grants, there would be no CommunityWorks and it’s hard to see who or what else would be stepping in to meet the need.”
Leveraging more than $105 million in total investments
It’s a message Ekstrom will take with him when he travels to Washington, DC at the end of March to meet with the state’s congressional members on the importance of funding NWA.
Something Ekstrom will point out is how diligent LCD Group is in managing every NWA dollar and maximizing it to its fullest potential. Over the years, LCD Group has leveraged $229 in investments for every one grant dollar it has received in federally appropriated funds.
NWA grant dollars have, through the years, been leveraged by LCD Group to a total investment of $105,495,730 in North Dakota.
“By every measure, Congress’ appropriation for NeighborWorks America is a sound investment but for a state like North Dakota, it is essential and it is yielding a superb return on investment,” Ekstrom adds.
Click on these links to learn more about LCD Group’s home loan programs, multi-family loans and family development, and property management services.