b'COMMUNITYMontbello Organizing Committee to Receive 4% Low Income Housing Tax Credits AwardT heAwardMarksaSignificantStepTowardClark Companies. Now, with the LIHTC award, ourDenver Foundation. "The Montbello FreshLo devel-Completing 97 Units of Affordable Units in thecommunity can continue working together to bringopment is truly a model for how funders, investors, Neighborhood Since being introduced with the Taxthis project to fruition. and residents can work together to make real change Reform Act of 1986, Low Income Housing Tax CreditsChristopherMartinez,MOCBoardChairandat a community scale."(LIHTC) credits have helped communities offset thelong-time Montbello resident, said,Stacey Barbas, FreshLo Initiative\'s Senior Program highcostsofdevelopingafford- "AllweneededwasforsomeoneOfficer & FreshLo Lead at the Kresge Foundation, able housing. The tax credits areto take a chance on our commu- shared,"Duringthegrantmakingprocessfor incrediblyvaluable,andtheyarenity.OftenawardsgotoentitiesFreshLo, we intentionally looked for neighborhoods also received through an extremelywithextensiveexperience,whilethat do not typically have access to funding. We knew competitive, complicated process.smallergroupsandcommunity- groups on the ground were already doing important, Theapplicationislengthy,theledeffortsareconsideredmorecommunity-drivenwork,andhopedourfunding odds are long, and most applicantsrisky.ThatCHFAacknowledgedwould help them seed new networks, bring resident-receive the award only after two orourcommitmentandwillingnessled projects to life, and develop the infrastructure to moretries.That\'swhyMontbelloto learn the ropes and tap expertssupport their neighborhoods for the long term. From Organizing Committee (MOC) wasto help us complete this develop- a philanthropic view, it may have been considered thrilled to receive notification lastment is a testimony. They will notrisky, but we were willing to put aside those more weekfromtheColoradoHousingbe sorry." traditional ideas of risk in grantmaking and invest and Finance Authority (CHFA) that"Takingachance"isathemein smaller, local organizations like Montbello. That Montbello FreshLo was selected asthat runs through the narrative ofbelief has paid off. one of 12 developments statewideMOC\'s progression. The organiza- From the moment they became part of the FreshLo to be awarded 4% tax credits. Thetionlaunchedwithsmallgrantsinitiative,theMontbelloteamhasbeenamaz-LIHTC application was MOC\'s firstfrom The Denver Foundation anding, dedicated, persistent, community leaders, and attempt. Angelle Fouther expanded its efforts when selectedstrongmembersofthecohort.Wearethrilledat The credit allocation of $2,267,504 will move MOCas one of 26 out 520 applicants nationwide to receiveMontbellos progress and proud to be a supporter.further along the critical pathway toward completiona FreshLo planning grant in 2016, awarded by the"We are excited about the FreshLo project because oftheMontbelloFreshLoHub(Hub),amixed-useKresge Foundation. The Montbello FreshLo Initiativeit represents our community self-determination and development including 97 units of affordable units,has grown into a project which includes the $54mmcommitmenttoeliminatetheinequitiesthathave from one to three bedrooms, for residents makingHub as well as a 5-mile Walkable Loop and a sus- preventedtotalwellnessforourneighbors,"says 30 to 70 percent of AMI. The Hub will also includetainable food access system inclusive of a commu- Rev. Vernon Jones, who grew up in Montbello and a theater/cultural space, grocery store, small retailnityfarmandnineschoolgardens.SeveralothercontinuestoliveandworkintheFarNortheast spaces, and community offices. funders have since come to the table supporting theregion of Denver."We are grateful to so many who helped us obtainorganization\'s collaborative work in the community.this award," said MOC Executive Director & FreshLo"MOC and FreshLo are such powerful examples ofThe FreshLo Hub is projected to break ground in Director,DonnaGarnett."Thisprojectistheout- what even small groups can do when they anchorthe fall of 2021 with a targeted opening date in 2023.comeofaprocessthatincorporatedthousandsoftheirworkincommunityandwhenthosewithTo learn more about the FreshLo Initiative, con-residents in the dreaming and planning. Our com- resourceslistentothevoicesofdirectlyaffectedtact Donna Garnett, Executive Director of Montbello munity team has been supported through the appli- residents and support their leadership, said PatrickOrganizing Committee and FreshLo Director, mont-cation process by Flo Development Services and SBHorvath, Director of Economic Development for Thebellofreshlo@gmail.com.BODY OF CHRIST NEWS DECEMBER 2020 19'