New River Valley HOME Consortium
The New River Valley HOME Consortium is a regional consortium that includes the counties of Floyd, Giles, Montgomery, Pulaski, and the City of Radford. The purpose of the HOME Consortium is to create housing opportunities for households earning at or below 80% of the area median income. Activities can include new homeownership, homeowner rehab, rental, or downpayment assistance.
In the five years since the NRV HOME Consortium was formed, 184 homes and apartments have been built, rehabilitated or are in process:
- 41 in Pulaski
- 16 in Radford
- 84 in Christiansburg
- 23 in Rich Creek
- 8 in Narrows
- 12 in Blacksburg
The NRV HOME Consortium receives an annual funding from the U.S. Department of Housing and Urban Development. It has been able to leverage the $2,776,000 for the 184 units it has assisted to bring an additional $13,678,000 to the communities in the New River Valley - a ratio of 4.93 dollars to every dollar of HOME funds. The HOME Consortium is an active and working example of successful cooperation, innovation, and partnership in the New River Valley.