Funding Our Green House® Community

Funding our Green House® community

Part of our funding will rely on the private-public partnership that has enabled much of our growth for decades. Government funding is integral to the Vernon Homes mission of providing affordable housing and healthcare.

green house community

This Green House community in New Jersey provides inspiration for the multi-home community we plan to finance via a government loan program plus a fundraising campaign.

Green House financing highlights:

  • We submitted a pre-application in April 2020 for a USDA/Rural Development Community Facility Loan Program loan and are awaiting approval
  • Based on work completed by the development team (architect, civil and mechanical engineers, and general contractor), we anticipate the total cost of development, site work and construction to be $20,000,000
  • In addition to government loans, we plan to raise $5,000,000 through grant and  capital campaign fundraising

A brief history of VH and government funding programs:

  • Vernon Green Nursing Home.  In 1946, Congress passed the Hill Burton Act. It gave hospitals, nursing homes and other health facilities grants and loans for construction and modernization. In return, they agreed to provide a reasonable volume of services to people unable to pay and to make their services available to all persons residing in the facility’s area. Funding provided by this Act enabled the construction of Vernon Green.
  • Vernon Hall. We received a loan via HUD’s Section 236 program to help build Vernon Hall. HUD created Section 236 in 1968 to enlist the private market in developing affordable rental homes. Through it, private lenders made 40-year market-rate loans that were either insured by HUD or financed by a state Housing Finance Agency. HUD provided the owner with an interest reduction payment that subsidized the owner’s mortgage down to a 1% interest rate. In return, the owner agreed only to rent to households with incomes at or below 80% of the area median income.
  • Vernon Birches. We took out a Rural Rental Housing Loan via the USDA Section 515 Rural Development program to build Vernon Birches and provide affordable rental housing for very low-, low-, and moderate-income families, elderly persons, and persons with disabilities.

What They Say

“ You are all very compassionate and caring. We appreciate all that you did. ”

- Ruth Tripp and family

What They Say

“ The patient and loving way that everyone has is contagious. Thank you all. ”

- The Bologan Family

What They Say

“ As many of you know, my mom is not one to sugarcoat anything… in fact, she can be the first to complain… my mom regularly says that she is so grateful to be cared for by such a loving group of people. ”

- Lynna Jackson, daughter of Clara Stone

What They Say

“ I appreciate so much your arranging things for me so that I could get therapy at Vernon Green. My needs were attended to very professionally by your staff. I thank the Lord for your kind and compassionate heart as you faithfully lead the work of Vernon Home. ”

- Bill

What They Say

“ Words cannot say how much we appreciate your loving care for Mom, Grandma, Grammie. You all truly became her extended family. You brought out a social and spunky side of her that would have been missed by so many if we had tried to care for her at home. ”

- Mike & Jeanne Mears