On Oct. 30, Coastal Enterprises, Inc., (CEI) a non-profit community development and finance organization, announced that it has received a $50,000 grant from The Home Depot Foundation to make improvements to the Western Glen development in Farmington.
When completed, Western Glen will offer 23 units of affordable senior housing. The funds will provide critical financing to help this project achieve the Gold level of Leadership in Energy and Environmental Design (LEED) and Energy Star certifications.
“This generous donation from The Home Depot Foundation allows us to continue our efforts to bolster affordable housing in economically underserved areas of Maine,” said Ron Phillips, President of CEI.
The green features funded by this grant include wall framing with insulated concrete forms, better air ventilation, and environmentally friendly siding that avoids petroleum-based vinyl. “Indoor air quality and energy efficiency are the two primary focus areas for CEI’s new developments,” said John Egan, CEI Housing Developer. “The funds from The Home Depot Foundation allow us to achieve higher performance thresholds in these categories.”
The grant supports CEI’s commitment to a “triple bottom line” approach to economic development, which favors projects provide economic value, social benefits or equity, and are compatible with the environment.
“The Home Depot Foundation is proud to be a funding partner of Coastal Enterprises,” said Kelly Caffarelli, president of The Home Depot Foundation. “Our Foundation supports organizations that create affordable, healthy housing for working families and seniors. By forming a partnership with CEI, we are furthering our shared mission of improving the health of local communities.”
Construction of the Farmington project has begun and is slated to be complete by the summer of 2009.
The Home Depot Foundation was created in 2002 to further the community building goals of The Home Depot. The Home Depot Foundation is dedicated to building homes for working families that are healthy to live in and affordable to own. To make homes healthy and affordable, the Foundation encourages developers to incorporate responsible design and use durable and quality materials to ensure that homes are more energy and water efficient, have good indoor air quality, and provide a safe and healthy space to live.
Since its formation, The Home Depot Foundation has granted $70 million to nonprofit organizations and supported the development of more than 50,000 affordable, healthy homes. For more information, visit www.homedepotfoundation.org.
Coastal Enterprises Inc. is a non-profit organization that offers rural business financing and technical assistance to companies and organizations where there is eventual outcome of social, community or economic development benefit.
Since 1977, CEI has financed over 1900 businesses, created or preserved 22,500 jobs, and created or preserved nearly 1200 affordable housing units. CEI has been recognized by 15 top national leadership organizations and foundations for its unique expertise in rural business development and finance. For more information, visit www.ceimaine.org.
