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Report: NECAC turns $1 million into $52 million

Posted on Wednesday, March 13, 2019 at 11:17 am

The Northeast Community Action Corporation is trumpeting a report that the social services agency turned a little over $1 million in grants into more than $52 million in investment in housing in Northeast Missouri from fiscal year 2014 to fiscal year 2018.

The report, released by NeighborWorks, a Congressionally chartered community development nonprofit, tracks the money it gives to each agency it works with and the total money they were then able to spend on related housing programs.

“The leveraged money comes from a variety of sources – public agencies, private companies and other non-profits. This is a really basic example, but let’s say NECAC is applying for a $100,000 grant to do down payment assistance. Most times, the funding source requires some sort of local contribution, in this case $10,000. NECAC uses that $10,000 to leverage the $100,000 from the grant. The net result is $90,000 that NECAC now has to help more people with down payment assistance,” NECAC Public Relations Officer Brent Engel wrote in an email.

The money went to programs to build and repair homes and provide advice and support for homeowners.

The report also documented the results of NECAC’s housing related programs: 1855 people provided housing related counseling and education; 295 new homeowners created; 712 current homeowners kept in their homes; 78 rental homes built, bought, or preserved; and 8825 homes repaired.

NECAC has been a chartered member of NeighborWorks since 2004. NeighborWorks was created by Congress in 1978 as the Neighborhood Reinvestment Corporation to provide support and grants for community organizations.

“These dollars translate into new houses, new communities and brighter tomorrows,” NECAC Deputy Director for Housing Development Programs Carla Potts was quoted as saying in a NECAC press release. “We are helping communities increase their tax bases. Nothing could be better than helping someone make their housing dreams come true, and we’ve been able to do that on an increasing basis. We continue to grow. This is pretty amazing. To leverage those kinds of dollars is really good for a rural agency.”

NECAC’s press release focused on the story of Irene Hausgen, who said that NECAC support was the difference in allowing her to weatherize her home and save her substantial amounts on her utility bills.

“Thanks to your programs and your dedicated workers I am confident that my home is secure and won’t require any major work the rest of my life,” Hausgen was quoted as saying.

NECAC claims to have participated “in the construction, renovation, management or planned development” of 1,300 residences since 1997.

For more information about NECAC homeownership and rehabilitation programs call 573-324-6622.