The Bend Chamber announces a recent grant from Wells Fargo to support planning efforts for the Workforce Housing Initiative.
The funding, totaling $20,000, will be used to support the Bend Chamber’s work to develop and launch a revolving loan program offering low interest, short term loans to developers and builders for the construction of attainable housing. The cost of land and other pre-development activities are often a barrier to creating housing for middle-income buyers earning between 80-120 percent of area median income.
“We are thrilled to be the recipient of this generous grant to support the Chamber’s workforce housing initiative and our new loan program. The Chamber is excited to collaborate with Wells Fargo and other community partners to develop an innovative, new tool to help spur affordable housing production,” said Katy Brooks, Bend Chamber president and CEO.
“We believe access to a quality, affordable place to call home is something everyone should have,” said Elizabeth Lorenzo, Senior Community Impact & Sustainability specialist at Wells Fargo. “Collaborating with organizations such as the Bend Chamber to create positive change is at the core of what we do.”
The first project utilizing the Bend Chamber revolving loan program is a partnership with Bend Redmond Habitat for Humanity and Hiatus Homes to construct a universally designed single family home in the midtown area of Bend. The project is underway and slated to be complete by early 2025.
The mission of the Bend Chamber is to create an environment where businesses, their employees and our community excel together through collaboration, advocacy, resources and leadership to meet Bend’s business challenges.
