CSH Named Finalist in Wells Fargo NEXT Awards for Opportunity Finance
Today CSH was named as one of three finalists for the nation’s largest awards program for responsible finance, the Wells Fargo NEXT Awards for Opportunity Finance.
With over 100,000 Americans still experiencing chronic homelessness, the selection committee recognized the need to increase the development of supportive housing to reach the most vulnerable men, women and children across the country, and chose CSH as a finalist for this year's Awards.
As an Awardee, CSH would use the $5.5 million NEXT Opportunity Award to expand lending activities in communities that have high levels of chronically homeless individuals and great need for supportive housing. CSH is poised to re-structure our loan fund as a truly national fund with key features that will allow us to attract much greater levels of capital to invest in supportive housing projects.
If CSH wins the NEXT Opportunity Award, we will expand into an additional 10 large, underserved markets across the country, adding around 10,000 new housing units and providing a replicable model for the CDFI industry.
The Awardees will be announced in late-September and celebrated on October 16
at the Opportunity Finance Network Conference in San Antonio. Awardees must be community development financial institutions (CDFIs) implementing innovative partnerships, business models, and opportunities to better serve more individuals and families in all 50 states.
The Wells Fargo NEXT Awards are presented by Opportunity Finance Network with funding from Wells Fargo, The Kresge Foundation, and the John D. and Catherine T. MacArthur Foundation. The NEXT Awards recognize CDFIs working to expand coverage in underserved communities.