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Housing Authority Earns
National Awards
The Housing Authority of the
City of Los Angeles' (HACLA) in
novative programs have earned na
tional awards of merit in housing and
community development.
The National Association of Hous
ing and Redevelopment O fficials
(NAHRO) will honor the Housing
Authority for nine o f its cutting edge
programs at the NAHRO Summer
Conference in New Orleans. July 19,
1996.
1 The H ousing A u th o rity won
awards for its Wide Area Network,
Video Program, Union Apprentice
ships, Cultural Awareness, City wide
Youth Council. Resident's Voice
Journalism Class, Jordan Downs
Modernization for Hotel Buildings,
Jordan Downs Community Center
and Mobility Plus Program.
“Mobility Plus helped many fam
ilies whose homes were destroyed
by the earthquake return to leading
independent, productive lives,” said
Don Smith, HACLA executive di
rector. “I am proud that our peers
have acknowledged the value of pro
grams like this by granting us this
award.”
The Mobility Plus Program was
enacted in response to the devastat
ing Northridge Earthquake of 1994
iind has numerous success stories of
residents finding jobs and moving
on, independent of federal assistance.
"W e've worked long, hard hours,
and it’s been reward enough just
seeing these earthquake victims gel
back on their feet," said Steve
Renahan, director of Section 8. "But
the award is nice. Il’s a little some
thing extra for us all.”
The Housing A uthority's award
winning programs have opened doors
for residents to find permanent hous
ing beyond public housing.
“It’s so wonderful to have our
program s recognized nationally,"
said Chairperson Oz.ie Gonzaque,
HACLA Board of Commissioners.
"Hopefully this will increase aware
ness about what w e’ve accomplished
here at the Housing Authority. W e’re
always moving forward, and it’s great
to be recognized for it.”
The Housing Authority employs
1,000 people and has a consolidated
budget of more than $470 million.
The Housing Authority has been rec
ognized by the Department of Hous
ing and Urban Development (HUD)
and the industry for its administra
tive capability and pioneering spirit
— which have led to the NAHRO
awards as well as plans to create
Computer Learning Centers through
out the developments as part of
HUD’s recently unveiled “Campus
of Learners.”
In the past year, the Housing Au
thority earned a “high performer sta
tus" from HUD for its overall man
agement of21 public housing devel
opments in Los Angeles.
BofA Housing Group Reaches $1 Billion In Loans
Bank of America Community Development Bank and its affiliate, Bank of America. FSB. Community Development
Division, have achieved a milestone by reaching the $1 billion mark in financing for the construction and preservation
of low-income housing.
"Bank of America Community Development Bank has grown into one of the leading
providersof affordable housing credit in the country,"said Stan Keasling, President of Sacramento-based Rural California
Housing Corp., and a member of BofA Community Development Bank’s Advisory Board. “It has demonstrated an
outstanding commitment to understanding the nonprofit housing industry so it can better meet the needs of this critical
market.”
NECDC Makes
House Buying Affordable
Continued from Metro
▲
25 years, the house can only be re
f o ld to Sabin CDC or another low
income tenant, and only for the orig
inal sales price plus a percentage
increase based on increased local
wages, the cost o f improvements to
the house, and the equity paid by the
owner so far.
“ If you d o n ’t have a way o f
p re s e r v in g a f f o r a b ility lo n g
term , the first tim e y o u r house is
sold the benefit is lo st,” CD C
f o u n d e r a n d d i r e c t o r D ia n e
M eisenh elter says.
She adm its that this p ro g ram s
not for ev ery o n e, but says it may
g ive o p p o rtu n itie s to people shut
out o f o th e r C D C s. “ Som e p e o
ple d o n ’t q u alify fo r m ortgages,
e v e n w ith h e lp fro m P ro je c t
D own P aym ent, b ecau se o f past
c re d it p ro b le m s,” M eisen h elter
says, “ by the tim e they get th e ir
fin an ces sq u ared aw ay they may
be p riced out o f the m arket, and
the house they w anted to buy is
g one. T h is allo w s them to live in
FDC
COMMISSION MEETING
Date: June 19,1996
Place: PDC
1120 SW 5th Ave., Suite 1100
Commission Conf. Room
Portland, Oregon
Time: 6:30 p.m.
Servies
Commission meetings are open to
the public. A complete agenda is
available at PDC or by calling
823-3200. Citizens w ith disabilities
may call 823-3232 or T D D 823-6868
for assistance at least 48 hours in
advance.
PDC is the C ity of Portland's urban
renewal, housing and economic
development agency.
Speedy Service
Friendly
Call For Quote
nity Home Buyer’s Program.
"Fannie Mae recognizes the key
role mortgage lenders, real estate
professionals, government agencies,
and nonprofit housing groups play
in providing home buyers with af
fordable mortgage information,” said
Maureen Warren, vice president of
housing impact for Fannie Mae.
"W ith the experts’ know-how and
Representative Cremeans' commit
ment to his community, this seminar
will help many area residents gel on
the path to homeownership."
Fannie Mae provided more than
$143 million in mortgage financing
to area residents in 1995, making
homeownership possible for more
than, 2,000 southern Ohio house
holds.
L inda Page, state d ire c to r for
U SD A Rural D evelopm ent, n o t
ed th a t ru ra l A m e ric a fa c e s
unique c h a lle n g e s and reiterated
that the P ortsm outh area had sp e
cial h o u sin g needs very d iffe re n t
from urban cen ters
"Each year USDA Rural Devel
opment programs create or preserve
tens o f thousands of rural jobs and
create or improve more than 60,000
units of quality rural housing by
working with partners like Fannie
Mae and the others here today," Page
said. "Decent, sale, and affordable
housing are indispensable to vibrant
rural com m unities.”
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104 NE Russel
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OHFA presented information on
its 5.99 percent interest rate pro
gram. 1996 Mortgage Credit C er
tificate Program, and a dow n-pay
ment assistance program.
OHF A Director of homeowner-
ship, Tony Warren said, "Seminars
like this helpget the word out about
programs that provide assistance
for Portsmouth residents to become
homeowners.
Homeownership creates strong,
stable communities and encourag
es economic developm ent.”
"Buying a home doesn’t have to
be a complicated, intimidating ex
perience. 1 am pleased that Fannie
Mae. in partnership with local lend
ers and stale and federal agencies,
invited me to participate in this
seminar, and I am confident it can
help put many more Ohio residents
on the path to a home of their ow n,”
Rep. Cremeans said.
Fannie Mae is a congressionally
chartered, shareholder-owned com
pany and the nation's largest source
of home mortgage funds. It has
committed to provide $1 trillion in
targeted lending for 10 million
homes by the end of the decade.
The targeted lending will serve
low- and moderate-income fami
lies. minorities, new immigrants,
residents of central cities and other
underserved areas, and people who
have special housing needs.
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Thinking of
Buying A House?
We Offer
Mark Tomlin
Representative Frank Cremeans
(R-OH) today noted that the 56.7
percent homeownership rate for the
Portsmouth area is below the na
tional average o f 65.1 percent.
Speaking at a free Home Buyer
Education Seminar sponsored by
Fannie Mae, Cremeans encouraged
residents to get on the path to home-
ownership. Fannie Mae (NYSE:
FNM), the nation's largest source
ol home mortgage funds, sponsored
the seminar in cooperation with
USDA Rural D evelopm ent, the
Ohio Housing Finance Agency
(OHFA), the Federal Home Loan
Bank, the Ohio Association of Re
altors and Ohio Capital C orpora
tion for Housing.
“Buying a home can be an intim
idating and com plicated experi
ence, but hom eow nership is an
important part o f the American
dream,’' Rep. Cremeans said. "This
seminar provides valuable infor
mation on the basic steps to home-
ownership, making it easier for
Portsmouth area residents to pur
sue their dream."
The seminar addressed a variety
of topics, including improvingcred-
it history, finding down payment
assistance, qualifying for a mort
gage loan, hom eow nership and
budget counseling services, w ork
ing with a Realtor, rural housing
needs and Fannie M ae's C om m u
Dad’s
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th e ir house w hile th e y ’re w o rk
ing to buy it.” T he CD C has p re
pared tw o h o u ses for the pro-
grarri, is w orking on four m ore,
and hopes to co m p le te four m ore
this year.
“The more approaches to home
ownership there are, the better o ff the
community is,” N ECD C'sTeri Duffy
says.
Cremeans Encourages Renters
To Become Homeowners
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