Vinton nonprofit awarded $200,000 grant
The Advancement Foundation, in partnership with Vinton, has secured a $200,000 grant to help low-to-moderate income applicants start a small business or pursue homeownership.
The grant money, which can be drawn down over the next three years, was awarded through a state-administered but federally funded Community Development Block Grant program.
This isn’t the first time the nonprofit foundation has received this type of grant support but it is the first year the town has been directly involved. Due to changes in how the funding flows through the federal budget, officials said, a locality is now required to be a co-applicant.
The money will be used to help people who live at 200 percent of the poverty level, or below it. Applicants will benefit from financial training provided through Advancement Foundation programs and will work to build their savings with the promise of a matching grant once complete.
To read more about this grant, check out the whole article, linked below.