“No one entity is owning the problem or can fill all of these financial gaps. If everybody shares the risk and has a little different financing in the deal, that’s what tends to make it work.”
– Lara Huskey, MHDF senior vice president
“We expanded into workforce housing development because we were seeing a need in the communities we were already working in,” she says. Schools, businesses, and manufacturers can’t retain or attract employees because there is no place for them to live in the community. So businesses are not able to grow and expand or, in many cases, meet existing needs. There’s a big gap between what’s available and what’s affordable for people in midlevel management positions, as well as people in service positions like teachers and healthcare workers, Huskey adds.
MHDF facilitates collaborative conversations and provides training and resources for community leaders to assess workforce housing needs in their communities, identify financing gaps, and develop their own community development housing funds.
Employers, local donors, banks, community leaders and developers are coming together to solve the workforce housing dilemma in rural communities. “No one entity is owning the problem or can fill all of these financial gaps,” Huskey says. “If everybody shares the risk and has a little different financing in the deal, that’s what tends to make it work.”
Visit Midwest Housing Development Fund here.