About Newtown
Newtown Community Development Corporation (CDC) is a 501 (c)(3) nonprofit corporation established in 1994 by community members to address concerns about housing, access to basic goods and services, neighborhood preservation, sustainable development and diversity.
Newtown is a community-based organization – 51% of its board members must reside in Tempe. Newtown is also a designated Community Housing Development Organization (CHDO) - one-third of its board members must be low-income, live in a low-income census tract or represent a low-income group.
Mission: Newtown develops permanently affordable homes through its Community Land Trust program and helps first time homebuyers become successful homeowners.
Key Strategies:
Create Affordable Homes
Newtown acquires and rehabilitates single-family homes and then sells the homes to eligible first-time homebuyers. Projects have also included new construction. Newtown’s Community Land Trust program is used to help make the homes affordable, to ensure permanent affordability, protect owner-occupancy, and protect the community’s investment in affordable housing.
Develop Homeowners
Homeownership counseling and coaching is provided to help participants eliminate barriers to homeownership (e.g. no savings, credit problems, excessive debt, poor money management skills, and lack of knowledge about the home buying process).
Provide Individual Development Accounts (IDAs)
Participants earn matching funds on the money they save toward the purchase of a home (3:1 match, up to $15,000 – the funds are a forgivable loan). Newtown is part of the Assets for Arizona Institute™ a joint venture with Mesa Community Action Network and Neighborhood Economic Development Corporation.
Offer Family-Based Child Care
Formerly a “crack house”, the Cradle House project is an example of neighborhood economic development. A certified child care provider lives in the home and provides quality, affordable child care for infants and toddlers.
Promote Community Building Activities
Newtown educates the community about the benefits of the Community Land Trust in creating permanently affordable homes. Money Smarts for Homeownership is a free 1½ hour workshop offered in English and Spanish. Newtown is also part of the Tempe Earned Income Tax Credit and Asset Development Initiative, a partnership with Tempe Community Council, City of Tempe, Tempe Schools Credit Union and the IRS.
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