Homes of Hope Expands Development Activities with JEDA Bonds Financing
Greenville, SC — Greenville County
Homes of Hope Inc. is using $6,420,000 of tax-free revenue bonds issued by the South Carolina Jobs-Economic Development Authority (JEDA) to expand its housing programs.
The Series 2014A revenue bonds will be used to finance single family rental homes for low and moderate-income residents in Anderson and Laurens counties.
Founded in 1998, Homes of Hope rebuilds communities through developing energy-efficient affordable housing and rebuilds the lives of men overcoming addictions through job training and mentoring. The organization’s housing programs include rental and homeownership op-tions coupled with financial wellness training, as well as permanent housing solutions for home-less service providers. Its one-year residential program for men overcoming drug and alcohol addictions trains its participants in the area of specialized constructed-related job skills.
Homes of Hope currently has 14 employees and expects to add more staff as capacity needs continue to grow. Homes of Hope has developed 495 homes since 1998 and has seen 286 men graduate its job training program for men overcoming addictions.
“Now 16 years into our journey, we find ourselves at an exciting juncture. Financing facilitated by these JEDA bonds is going to make possible some amazing and impactful new developments in areas of the upstate previously neglected,” said Don Oglesby, Homes of Hope President and CEO.
“Homes of Hope is highly regarded because its programs are successful, and now more communities want Homes of Hope to revitalize their neighborhoods. We’re honored to have some part in helping this amazing organization expand its ability to serve,” said Kathy McKinney, Bond Counsel with Haynsworth Sinkler Boyd, P.A., in Greenville.
“Our ability to help Homes of Hope finance its growth is something that benefits all of South Carolina, especially those communities where Homes of Hope is active or soon will be,” said Harry A. Huntley, CPA, Executive Director of JEDA in Columbia.
