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Affordable Housing Internship Program
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In the affordable housing industry in West Virginia, we are witnessing the aging of our leadership. In conjunction with this reality, the more entrepreneurial organizations are lead by those who have had to learn about developing single family homes, multifamily tax credit projects, financing and mortgage products on the run with little or no formal training. CommunityWorks is encouraging the development of a formal training program at the university level, so that future leaders in this industry will have the tools and experiences they need to make an ever greater impact on the housing needs in West Virginia.
During 2009, the Affordable Housing Internship Program was a success providing stipend to 6 master level students, from WVU, Marshall, and WV Wesleyan College who for a semester spent 35 to 40 hours per week at a local nonprofit housing organization. Those organizations were Fairmont Morgantown Housing Authority, Huntington Housing Authority, Housing Development Corporation, Mountain CAP in West Virginia, and Fairmont Community Development Partnership. In 2010 we plan to expand the program to serve 15 students and increase the number of colleges and universities participation.
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| Loan Programs |
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CommunityWorks in West Virginia, Inc. has three loan programs, a Revolving Loan Fund, a Construction Loan Fund and a Commercial Loan Fund.
Revolving Loan Fund provides ownership opportunities to its network of member clients for the financing to purchase, and/or the rehabilitation of a home, as well as homeowners to repair their home. The applicants must present acceptable credit risk and offer reasonable security for the CommunityWorks loan.
Commercial and Construction Loans are available to the network of member organizations for a variety of activities.
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| Training Program |
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CommunityWorks raises funds and organizes training programs for its members including certification programs such as homeownership and community lending.
At present, there are no courses offered in the affordable housing field at any institution of higher education in the state. CommunityWorks is addressing this lack of capacity, whereby the Executive Director and Board President working with West Virginia University Public Administration Department will develop a housing program as a sub-specialty in that degree program. Secondly, the Affordable Internship Program sponsored by CommunityWorks will support 15 students who will work at one of the nonprofit members organization as interns.
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