The LEAP Housing Trust, a Boise-based nonprofit that creates affordable housing, has raised $2.1 million for its first capital campaign.
The Blue Cross of Idaho Foundation for Health donated $300,000, according to a press release, and Saint Alphonsus Health System donated $240,000.
The trust creates homes with sales prices that are affordable to low-income households, which are individuals who earn 80% of the area median income. The homes are affordable, according to the organization, because owners only purchase the home while the land is owned by the trust. The homeowners still build equity on the home, including any improvements made. This video explains the process.
Caritas Commons (14 homes in Boise), Whitney Commons (11 homes in Boise) and an unnamed project in Mountain Home will be the first three communities in the LEAP Housing Trust. The organization is hoping to make homes in the trust available across the state.
The LEAP Housing Trust is made up of contributions from 14 individuals, corporations and foundations, and LEAP continues to look for community partners. The $2.1 million capital campaign was supported by the following major donors: Saint Alphonsus, Blue Cross of Idaho Foundation for Health, Whitney Foundation, Federal Home Loan Bank, Laura Moore Cunningham Foundation, Harry Morrison Foundation, Boise Regional Realtors Foundation, First Interstate Bank, the Idaho Community Foundation and private individuals.