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Austin Habitat for Humanity gets multimillion-dollar loan

The $4 million comes from the Austin Community Fund.

AUSTIN, Texas — The Austin Community Fund awarded Austin Habitat for Humanity a $4 million loan to be paid back over the next two years, the Austin American-Statesman reported.

The low-interest loan will go toward the construction of 30 homes in Austin ISD and 120 homes in southeast Austin.

Austin ISD announced its partnership with Austin Habitat for Humanity in May. The two will build affordable homes for AISD families and employees in two locations: one off Highway 183 and Loyola Lane and the other off Highway 183 and East 51st Street.

According to the Statesman, money for the loan comes from grants from the St. David’s Foundation, Tito’s Handmade Vodka and the Bill Wood Foundation as well as investments from the Aragona family, the Shield-Ayres Foundation and "a charitable giving account administered by Austin Community Foundation" known as a donor-advised fund.

The loan has a 2% interest rate.

To read the full Statesman report, click here.

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