HABITAT FOR HUMANITY OF THE MAGIC VALLEY INC

HOMEOWNERSHIP PROGRAM: FAMILES IN NEED OF A DECENT PLACE TO LIVE BUILD SAFE AND AFFORDABLE HOMES IN PARTNERSHIP WITH US. HABITAT HOUSES ARE MODESTLY SIZED. THEY ARE LARGE ENOUGH FOR THE HOMEOWNER FAMILY'S NEEDS, BUT SMALL ENOUGH TO KEEP CONSTRUCTION AND MAINTENANCE COSTS AFFORDABLE. BY USING THE LABOR OF VOLUNTEERS AND PROSPECTIVE HOMEOWNERS, EMPLOYING EFFICIENT BUILDING METHODS, KEEPING HOUSE SIZES MODEST, USING DONATED CONSTRUCTION MATERIALS AND APPLIANCES, AND ISSUING NO-PROFIT LOANS, HABITAT MAKES ITS HOUSES AFFORDABLE FOR LOW-INCOME FAMILIES TO PURCHASE. AFFORDABLE HOMEOWNERSHIP HELPS CREATE THE CONDITIONS THAT FREE FAMILIES FROM INSTABILITY, STRESS AND FEAR AND ENCOURAGE SELF-RELIANCE AND CONFIDENCE. STUDIES SHOW THAT STRONG AND STABLE HOUSEHOLDS ARE FOUNDATIONAL TO CHILD DEVELOPMENT AND GROWTH. WHEN A HOME FOSTERS - INSTEAD OF HINDERS - HEALTH AND SAFETY, FAMILIES CAN FLOURISH. OWNING AN AFFORDABLE HOME ALSO ALLOWS HOMEOWNERS TO LIFT UP THEIR ENTIRE FAMILY BY SAVING FOR THEIR FUTURES AND INVESTING IN EDUCATIONAL OPPORTUNITIES, BOLSTERING JOB OPPORTUNITIES AND CAREER GROWTH. DURING THE FISCAL YEAR ENDED 6/30/24, HABITAT FOR HUMANITY OF THE MAGIC VALLEY STARTED THE CONSTRUCTION OF TWO HOMES AND COMPLETED ONE HOME. DURING THOSE 12 MONTHS, ONE HOME WAS SOLD TO A QUALIFIED LOW INCOME FAMILY AND ONE HOME IS STILL UNDER CONSTRUCTION FOR RESALE AND NOT YET SOLD. THE RELATED CONSTRUCTION COSTS (CONSTRUCTION IN PROGRESS)REMAIN ON THE BOOKS AS AN ASSET CALLED INVENTORIES FOR SALE OR USE.

HABITAT FOR HUMANITY OF THE MAGIC VALLEY RECEIVED, THEN RENOVATED HOUSES UNDER THE NEIGHBORHOOD STABILIZATION PROGRAM (NSP)THAT UTILIZED A FEDERAL GRANT FROM THE U.S. DEPARTMENT OF HOUSING. ALL OF THE RENOVATED HOUSES WERE THEN SOLD TO QUALIFIED LOW INCOME FAMILIES THROUGH NO-INTEREST LOANS HELD BY THE HABITAT ORGANIZATION. FOR THE 12-MONTHS ENDED 6/30/24, HABITAT RECEIVED MORTGAGE PAYMENTS FROM THOSE NSP HOMES AND QUALIFIED FAMILIES IN THE MAGIC VALLEY TOTALING 34,159.