MONTE VISTA - On Monday, July 13, a USDA Rural Development Mutual Self Help Program groundbreaking ceremony took place at 835 Tyndall in Monte Vista. Community Resources and Housing Development Corporation (CRHDC) is helping 4 families build four new single family homes in Monte Vista as part of the USDA Rural Development Mutual Self Help Program.
The USDA Rural Development Mutual Self-Help program provides housing grantee organizations like CRHDC with funding to oversee housing construction projects in rural areas. These organizations supervise groups of very low and low income individuals and families as they construct their own homes. With a trained construction supervisor on-site, these building groups perform at least 65 percent of the construction work required (“sweat equity”) to build their homes. The USDA RD provides residential loans with up to 100 percent financing along with low interest rates. No down payment is typically required.
The Mutual Self-Help housing program benefits residents and businesses in the rural SLV community.
The organization hires local contractors for some parts of the construction and purchases its construction materials and supplies from local small businesses. The homeowners learn construction skills by working with knowable construction supervisors. Affordable housing programs like this are a sustainable and financial win-win for our SLV community.