Maude Hill Growing Homeownership Fund
“If you fall behind, run faster. Never give up, never surrender and rise up against all odds.”
On February 1st, Vice President - Development Officer, Millie Hurtt was able to attend and represent RiverHills Bank at a press conference in Columbus, OH for the launch of CONVERGENCE Columbus Maude Hill Growing Homeownership Fund. Ms. Hurtt was proud to represent RiverHills and commented that:
“As stewards of community development, we recognize the critical importance of addressing the racial wealth gap. This divide not only affects individuals and families but also undermines the fabric of our society. CONVERGENCE and the creation of this Fund, offers a powerful framework to tackle this issue head-on. Today, we are not merely making a financial contribution; we are investing in a vision of equity and opportunity. This fund represents more than just bricks and mortar; it symbolizes the foundation upon which dreams are built, futures are secured, and communities thrive.”
The Maude Hill Growing Home Ownership Fund was created to assist Black and Minority homeowners by providing grants for downpayment assistance. This will help bridge equity gaps caused by racialized policies and large debt-to-income ratios that have hindered minority homeownership growth. Columbus suffers from a large racial homeownership gap. In fact, it was discovered that Columbus had a 31% gap between Black and White homeowners. This is the second largest racial homeownership disparity that has been recognized in urban metropolitan cities in America.
For perspective as to why the CONVERGENCE Columbus coalition was founded, in Central Ohio the 31 % gap between Black and White homeownership is larger today than it was immediately after the Fair Housing Act in 1968 following the civil rights movements. Studies have shown that providing more limited downpayment assistance programs with a targeted approach could move 1.1 million Black and Hispanic renters to homeownership immediately.
This emotional celebration can be viewed through the following link: Maude Hill Press Conference.
If you are in the Columbus, OH area or Franklin County, and you would like to see if you are eligible for this assistance, please visit: www.Bloom614.org.