SAN ANTONIO, Feb. 17, 2017 /PRNewswire/ -- Casa Tierra, a 501(c)(3) public charity focused on the development of affordable housing, is pleased to announce receipt of a significant donation through Freehold Capital Partners.
Mark Temple, the executive director of Casa Tierra, said, "It has been our pleasure to work with Freehold Capital Partners, and we commend them for their support of affordable housing. As government resources become scarce, it is more important than ever for the private sector to help fill the funding void."
Freehold Capital Partners is the world's largest originator and owner of capital recovery fees, also known as private transfer fees. Capital recovery fees consist of an assessment created in connection with real estate projects. These assessments help spread infrastructure costs, make home ownership more affordable, and provide long-term sustainable funding for non-profits.
According to Freehold Capital Partners, five percent of every assessment dollar goes back into the community for diverse public benefits such as open space, volunteer fire departments, and of course, affordable housing. Freehold's 2016 contributions to non-profits were approximately $2.5 million. This is anticipated to rise significantly over the coming years, ultimately generating billions of dollars for clean air, parkland, affordable housing, and other community benefits. Mr. Temple went on to say, "Helping property developers pay for infrastructure through long term assessments, while also requiring that a portion of every assessment dollar be returned into the community, aligns private business interests with the public good."
About Casa Tierra: Casa Tierra is a 501(c)(3) public charity organization focused on affordable housing.
About Freehold Capital Partners: Freehold Capital Partners owns the largest portfolio of private transfer fee assessments in the world. Freehold created this portfolio to make housing more affordable and, in the process, harness private sector incentives to build better communities. Learn more at www.freeholdcapitalpartners.com.
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SOURCE Freehold Capital Partners