by Guy Page
MacKenzie Scott, mega-philanthropist ex-wife of Amazon founder Jeff Bezos, has donated $20 million to the Champlain Housing Trust, the state’s largest affordable housing owner/manager, Seven Days reported today.
In a byline story by veteran reporter Anne Wallace Allen, the weekly newspaper reported that her not-for-profit organization, Yield Giving, will provide the largest single gift in CHT’s 40-year history. The group’s annual budget is about $27 million, 7D said.
Champlain Housing Trust provides low-interest loans to low-and-middle income homebuyers, and also rents to low-income residents, mostly in Chittenden and Franklin counties. It owns several motels that have been converted into housing for low-income residents.
According to 7D, CHT will use the funds to:
- Increase its endowment, which in turn pays for homeowner education and for social workers assisting homeless people
- Expand its homeownership equity program to assist people of color
- Avoid borrowing and strengthen its balance sheet, providing more favorable lending terms.
CHT published a statement on the Scott gift on its website.