The Preservation Society of Fall River, Inc., was recently designated a Community Housing Development Organization (CHDO) under the HOME program by the United States Department of Housing and Urban Development.
This designation makes the Preservation Society eligible to receive HOME funds set aside for CHDOs – private nonprofit, community-based organizations that develop affordable housing for the communities they serve.
“This changes everything,” Board of Directors James Soules said. “By receiving CHDO status, the Preservation Society now has access to federal funds that will be vital to redevelopment projects that provide, not just affordable housing to the city, but rehabilitated history in Fall River.”
This certification will enable the Preservation Society to better serve its mission to protect and preserve Fall River’s historic properties, showing that historic preservation and affordable housing can work together hand in hand.
After purchasing its first property, the Dr. Isaac Fiske House – an Underground Railroad Station on Pine Street – in 2018, the Preservation Society is in the process of searching for its next property to redevelop utilizing CHDO funds.
In order to qualify for designation as a CHDO, an organization must meet certain requirements pertaining to its legal status, organizational structure, and capacity and experience. The Preservation Society worked with Fall River’s Community Development Agency Housing Department on its application.