OpenDoor Housing Fund – Safe and Socially Responsible Investing UUs invest well in a place that does good

open door

Several years ago the Endowment Fund Committee of Cedar Lane Unitarian Universalist Church made investments in affordable housing in metro Washington by lending the UU Affordable Housing Corporation, now OpenDoor Housing, substantial amounts of money.   As one of more than 300 institutions and individuals investing in OpenDoor, they have helped to finance thousands of units of affordable housing in this area—all while making up to 3% interest.  This allows OpenDoor to make short-term, low interest loans to tenant associations and nonprofit and for profit local affordable housing providers, preserving affordable housing, preventing foreclosure and financing “green housing. When these projects are completed and sold or rented, OpenDoor’s loans are repaid and the money is available to be loaned out again. How do Cedar Lane’s loans look in this economic climate? The fact that they are being paid 3% guaranteed interest on these loans and that their capital is intact certainly beats the returns over the last several years on almost all of their other investments. How about your investments?  OpenDoor has received a clean bill of health from the auditors for the last fiscal year and is well managed.  As we come out of the current recession, there will be even better opportunities to help provide financing for affordable housing due to the reduction in the costs related to these housing projects. More OpenDoor loans will be sought because of an increasing demand for housing—especially if the anticipated second wave of foreclosures is not diverted.  OpenDoor can’t meet that need without your help.  Please take this opportunity to make a sound investment while satisfying the desire to help solve an enormous social problem.  UUs started the UU Affordable Housing Corp in 1989 to create affordable housing for working families and residents with special needs. Our desire to maintain a leading role in affordable housing is carried on by the UU Interfaith Advisory Committee to OpenDoor.  The UUA matches congregational investments of up to $10,000. Is your congregation invested?  OpenDoor is a designated  Related Organization of the Unitarian Universalist Association because of our shared principles and work

 Congregations represented and Committee members are: 

Arlington – Mary Lynn Ernstthal

Cedar Lane –  Jay Schneider 

Fairfax – Wini Atlas

Paint Branch – Carol Carter Walker

Reston – Anne Thomas

River Road – Jack Edmondson

Rockville – Brian Sullivan and Terrie Barr. 

For more information, go to: http://opendoorhousingfund.org/ or contact Kathy Latulippe at 301 588 5533