Statements
Mission
New Level Community Development Corporation puts community in housing by building, renting, educating and supporting people to secure a safe, fit and affordable place to call HOME.
Background
Founded in 2003, through the efforts of Mt. Zion Baptist Church leadership, New Level Community Development Corporation is a conduit bringing resources, tools and knowledge together to help provide housing and financial stability to individuals and families.
Impact
In the next 2 years, 2019-20, New Level CDC intends to double the number of our rental units from 19 to 40 with a focus toward a mixed income model combining units for low to moderate income families. This model will increase sustainability for the organization, build capacity and fulfill our mission to provide safe, fit and affordable housing for our community . By the end of 2019, New Level CDC will complete 7 single-family, 3 bedroom, 2 bath affordable homes for sale to households with moderate incomes up 80% of the Area Median Income or about $53,000. By the end of 2019, New Level CDC will see the completion of 6 affordable town homes with its partner in the project, Miken Development. Affordability is made possible from a $360,000 grant from The Barnes Housing Trust Fund and community down payment assistance programs. The town homes are part of a 63-home, mixed-income development in West Nashville known as Rows at The Annex. Goals for the current year also include implementing new community engagement and fundraising plans including sponsorship opportunities to raise $750,000 and increase the community impact of the organization. As a HUD-certified housing counseling agency, New Level CDC has provided First-Time Home Buyers Education Training, to over a thousand families. The education qualifies them for down payment assistance to help purchase a home. Over 400 families have purchased their first home in the last three years. Our Housing Counselor also provides credit and financial reviews to help families pay down debt and increase savings.New Level CDC has partnered with First Tennessee Bank to provide a Matching Savings Program for over 30 families who are purchasing homes.
Needs
The rental capacity building goal of acquiring and improving 16-20 duplex and triplex units requires estimated equity funding of $650,000 to combine with low interest loans from bank partners. Building staff, board and technology capacity to steer the fund raising and friend raising efforts is expected to require an additional $50,000.
CEO Statement
New Level CDC actively collaborates with area nonprofits, partners with local businesses and the local and state housing agencies, to help families move toward financial stability, home ownership and building wealth. By providing affordable housing, financial coaching, home buyer education training, and matching savings, New Level CDC helps families build strong financial foundations. The rapid development in Nashville has resulted in a diminishing supply of housing for low to moderate-income families, an increase in prices for goods and services and longer commute times to work which is increasing stress on children and families. Stagnant wages and high housing costs have limited a family's ability to save for emergencies. When emergencies arise, families resort to high-cost loans further pushing them into cycles of crises. New Level CDC has provided housing and financial counseling to over 1,000 families who work for our public schools, hospitals, colleges and universities as well as local and state government agencies. A review of our client data shows an increase in households with higher incomes ($50,000+) seeking down payment assistance due to student loan debt, higher auto payments, and increased health care costs. Rents have skyrocketed in Davidson County in recent years causing over 46% our renters to spend more than 30% of their income on housing.
Board Chair Statement
Moving a community development organization to the next level in a rapidly changing nonprofit world is a pressing challenge. Federal government grants for housing development have continue to shrink, competition is fierce for state and local dollars. Community development organizations rely on self-sustaining business models where earning your own revenue is critical to success. New Level's board of directors is committed to increasing earned revenue by raising funds to purchase more rental units capable of providing needed affordable housing while also contributing a modest revenue stream to support the mission of the organization. Improving the lives of families and children through housing and support, improving neighborhoods and working in partnership with others for greater community impact are driving forces in our work. To expand our funding sources we are committed to our new strategic plan which includes 3 new board committees and new staff positions. Goals include improving board engagement and capacity, improving processes, productivity and efficiency.
Service Categories |
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| Primary Category: | Community Improvement, Capacity Building - Community & Neighborhood Development |
| Secondary Category: | Housing, Shelter - Housing Development, Construction & Management |
| Tertiary Category: | Housing, Shelter - Low-Income & Subsidized Rental Housing |
Areas Served
Our primary target area for building homes is in Davidson County. Our First-time Home Buyers Education Workshops and online courses are available for home buyers in the Middle Tennessee area.
| TN - Montgomery |
| TN - Wilson |
| TN - Rutherford |
| TN - Maury |
| TN - Williamson |
| TN - Cheatham |
| TN - Davidson |
| TN - Dickson |
| TN - Robertson |
| TN - Sumner |
