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J uly 23, 1997 • T he P ortland O bserver
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Lawyers build home
Portland’s Nikki
Williams and her
daughter, Abrianna, 9,
anticipate the home
which will soon stand
on this vacant lot. The
pair will join in the
construction by
Habitat for Humanity
volunteers consisting
o f an all-female crew,
the first-ever for the
non-profit
organization. Nikki has
already completed
4 0 0 hours o f sweat
equity in her future
home by building
other Habitat homes.
(Photo by Darcey
Varney)
Saturday. July 12th. lawyers from
the Oregon State Bar s New Law­
yers Division Public relations Com­
mittee will help build a home tor
Portland Habitat for Humanity. Usu­
ally. lawyers are retained to negoti­
ate the sale or purchase of a home.
Now, young lawyers are making a
commitment to serve the commu­
nity by helping to build houses
alongside the owners
This is the first time the OSB
New Lawyers Division has helped
build a Habitat home, but members
are hoping this will become an an­
nual event.
The lawyers will work on the
Cleveland Street Townhouses lo­
cated at 4 8 3 1 -4837 NE Cleveland.
Approximately fifteen young attor­
neys and judges, as well as their
families and friends will join in the
fun.
Portland Habitat arranges for vol-
unleer organizations such as the
OSB New Law yers Division to build
affordable homes for families in
need. Homes are sold at cost to
families subsisting on 30 to 60 per­
cent of Portland’s median income
and family members pul 4(X) hours
of "sweat equity” into the building
of their own home.
T he C le v e la n d T o w n h o u se
project is sponsored by the Home
Builders Association of Metropoli­
tan Portland and the Aid Associa­
tion of the Lutherans
The OSB New Lawyers Division
is comprised of lawyers in their first
six years of practice or until they
reach 36 years of age. The Division
exists toencourage members to par­
ticipate in membership and com ­
munity activities. For more infor­
mation on the OSB New Lawyers
Division, call Kirsten Meneghello
at (503) 497-2870
Lenders receive grants lor affordable housing projects
The Federal Home Loan Bank o f
Seattle aw ard ed g ran ts totalin g
$455,000 to Bank o f America, FSB,
KeyBank, N.A. and W ashington
Mutual Bank to support their efforts
to fund affordable housing in Port­
land, Oregon and Vancouver, Wash-
ington. The grants will fund the con­
struction o f 295 apaitm ents for very
low-income and homeless families
and individuals, including those with
physical disabilities and/or AIDS,
announced James R. Faulstich, presi­
dent and chief executive officer of
the Federal Home Loan Bank of Se­
attle.
A private, wholesale bank, the
Federal Home Loan Bank o f Settle is
providing the grants through its A f­
fordable Housing Program (AHP)
which offers targeted grants and re­
duced-rate loans to help financial
institutions support community or­
ganizations with the development of
affordable housing. The AHP is
funded annually with ten percent of
the Seattle B ank’s profits.
management classes, and a Jobs to
Work program. Residents will earn
annual incomes o f less than 60 per­
cent o f the median income in Port­
land, or $25,020 for a family o f three.
Funding for the $4.6 million devel­
opment will come from Low Income
Housing Tax Credit equity, a re­
duced-rate loan from the City o f Port­
land and a private reduced-rate mort­
gage loan. Construction is slated to
begin in October 1997 and be com ­
plete in June 1998. For more infor­
mation, contact Libby Hutchinson,
Washington Mutual Bank, (206)461-
2484, or Rob Tucker, Housing Au­
thority o f Portland, (530)273-4512.
GLADSTONE SQUARE
W ashington Mutual Bank secured
an AHP grant o f $48,000 to help the
Housing Authority o f Portland fund
the development o f 48 two- and three-
bedroom apartments for lower-in­
come families. Gladstone Square will
be constructed on a two-acre site off
o f 122nd Avenue between Powell
and Holgate in southeast Portland
and will include a playground, court­
yard and a community building which
will house on-site supportive ser­
vices such as parenting and money
helpful to them in the job market.
The project will also provide retail
commercial space on the ground
level. In addition to the AHP grant.
Bank o f America will provide con­
struction and permanent loans for the
project. Additional funding partners
for the $6 million project include the
Portland DevelopmentCommission,
the Oregon Housing and Community
Service Department, the Oregon Eco­
nomic Development Department, the
Cascade AIDS Project, the Enter­
prise Foundation and the Oregon
MCCOY VILLAGE
Bank o f America, FSB will use
and AHP grant o f $81,000 to help
fund McCoy Village, a 55-unit apart­
ment building located on M artin
Luther King Boulevard in northeast
Portland. McCoy Village will be
developed and managed through a
partnership between the Northeast
Community Development Corpora­
tion, a local nonprofit housing devel­
oper, and ONE Company, a small,
woman-owned, socially responsible
developer. The apartments range in
size from one to four bedrooms and
will be rented to families and indi­
viduals, including the elderly, hom e­
less individuals and persons with
AIDS, earning less than 50 percent
o f the median annual income in Port­
land ($23,150 for a family o f four).
The development will include a com ­
puter resource center where residents
can learn computer skills that will be
earning less than 17 percent o f the
annual median in the Portland area,
or approximately $5,508 per year.
Residents will have access to on-site
support services including indepen­
dent living skills training, personal
assistance and support groups. The
development will be located on the
northeast com er o f Linden Avenue
and 8th Street in Gresham. Funding
sources for the $2.2 million project
include the Department o f Housing
and Urban Development and foun­
dation and corporation grants. Con-
“These projects are among 31
affordable housing developments
across the region that have received
AHP grants so far this year.
Corporation for Affordable Hous­
ing. For more information, contact
Ed De Wald, Bank o f America, FSB,
(503) 275-2303, or Channa Grace,
Gladys McCoy Apartments Limited
Partnership, (213) 254-3744.
PORTLAND SUPPORTIVE
HOUSING DEVELOPMENT
Washington Mutual Bank will use
a $100,000 AHP grant to help Ac­
cessible Space, Inc., a nonprofit or­
ganization that develops affordable
housing for persons with physical
disabilities, construct the Portland
Supportive Housing Development.
Accessible Space will partner with
Quad, Inc., a local nonprofit, to build
the 23 apartments for persons with
severe physical disabilities who are
exceed 30 percent of the annual me­
dian in the Portland/Vancouver area
($9,720 for an individual) and most
o f the residents will have no income
at all. Services provided at the Share
House will include meals, transpor­
tation vouchers, employment coun­
seling and minor medical assistance.
Additional funding partners for the
$900,000 project include Community
Development Block Grant Funds from
C lark C o u n ty and the C ity o f
Vancouver, Clark County HOME
funds and the Washington State Hous­
ing Trust Fund. Construction is slated
to begin in September 1997 and be
complete in March 1998. For more
in fo rm a tio n ,
c o n ta c t
L ibby
H utchinson, W ashington M utual
Bank, (206) 461-2484, or Diane
Christie, Share Inc., (360) 604-0907.
struction is scheduled to begin in
August 1997 and be complete by
April 1998. For more information,
contact Libby Hutchinson, W ashing­
ton Mutual Bank, (206) 461-2484,
or David Piltz, Accessible Space,
Inc., (612) 645-7271.
SHARE HOUSE
An AHP grant o f $126,000 se­
cured by W ashington Mutual Bank
will help Share, Inc., a nonprofit so­
cial service agency, redevelop the
Share House, a shelter for homeless
men that was destroyed by fire in
1996. The former structure, located
at 1115 W. 13th Street, has been
demolished and will be rebuilt to
accommodate 42 single, homeless
men. Residents’ incomes will not
KeyBank, N.A. will use a $ 100.000
AHP grant to help the Vancouver
Housing Authority construct 124
single-room-occupancy and studio
apartments to serve as both permanent
and transitional housing for homeless
individuals, and very low-income in­
dividuals who are elderly or physi­
cally disabled. The four-story build-
id AFFORDABLE HOUSING
3 bedroom, 2 bath, newly constructed home in W alnut Park area.
Income restrictions include annual minimum income o f $19,200;
%
r^ r
Commercial bank signs agreement with State
The O regon H ousing & C om ­
m u n ity S e r v ic e s D e p a r tm e n t
(O IIC SD ) announced that C om ­
m ercial Bank has signed an ag ree­
ment w ith them to o ffer the G.E.
Home O pener Program Baruti L.
A r th a r e e , O H C S D D ir e c to r ,
praised C om m ercial Bank for their
com m itm ent to affordable housing
and their willingness to partner with
O IIC SD to help m ore low- and
m o d e ra te -in co m e fa m ilie s p u r­
chase their first hom e
“The G.E. Home O pener Pro­
gram fits perfectly w ith C om m er
VANCOUVER COMMUNITY SRO
cial B ank’s goal to see home ow n­
ership for every qualified O rego­
nian who desires their own home,
said Jane H orsey, U nderw riter, at
C om m ercial Bank
Dee Taylor, O H C S D ’s R esiden­
tial Loan Program m anager lurther
explained, “The G.E. Home Opener
Program is an innovative tool to
reduce monthly m ortgage payment
costs over a nine year period.
The Program is targeted to per­
sons living in rural O regon and
earning less than 80% o f area m e­
dian incom e as adjusted by family
size.
Funding for the Program comes
from the D epartm ent o f Housing
and Urban D evelopm ent’s HOME
funds Eligible hom ebuyers may
receive up to $10,000 in the form
o f a grant (subject to a recapture
provision should the home be sold
or transferred w ithin the first 5
years). Funds from the grant can he
used to help the hom ebuyer make
their m onthly m ortgage payment
and to cover som e o f the m ortgage
closing costs.
O H CSD is the state housing fi­
nance agency, providing financial
and program support to create and
preserve opportunities for quality,
affordable housing for low-income
O regonians The D epartment also
adm inisters federal and state an ti­
poverty com m unity service pro­
grams.
For more inform ation about the
State o f O regon’s affordable hous­
ing program s, call Dee T aylor at
503/986-2041 For more inform a­
tion on Com m ercial B ank’s p ro ­
gram s, call Rebecca Segovia a,
503/371-2675 or 399-3967.
•if
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—
l
ing w ill
be con stru
cted on t the
Vancouver Campus of the Depart­
ment o f Veterans Affairs. The devel­
opment will provide on- and off-site
supportive services to residents in­
cluding health care, substance abuse
counseling, andjob training. Residents
will earn less than 50 percent o f the
median annual income for the Port­
land/Vancouver area, or approxi­
mately $16,200 for an individual. In
addition to securing the AHP grant,
KeyBank will provide the project with
a construction loan and will purchase
tax exempt bonds and Low Income
Housing Tax Credits. Other potential
funding sources for the $5.2 million
project include the Department o f
Housing and Urban Development,
Community Development Block Grant
Funds from the State o f Washington,
C lark C o u n ty and the C ity o f
Vancouver, the Veteran’s Assistance
Fund and HOME Funds. Construc­
tion began in June and will continue
until March 1998 when the project is
slated for completion. For more infor­
mation contact Don Brewer, KeyBank,
N.A., (206) 684-6338, or Richard
Sample, Vancouver Housing Author­
ity, (360) 694-2501.
maximum household income levels are:
• 1 person, $19,400
• 3 persons, $25,020
• 2 persons, $22,200
• 4 persons, $27,780
Purchase price is $80,000, with a grant to reduce the interest rate.
Buyers must have a $1,500 downpayment. Deed restrictions will
apply for ten years to maintain long term affordability. For infor­
mation and showing, contact: Franciscan Enterprise, 284-8642.
Housing Should Be
Open to Everyone
Fannie Mae Houses More Than 4,800 Families
The City of Portland and Fannie
Mae the nation's largest source of
home mortgage funds, reported that
more than 4,800 families obtained
affordable housing during the sec­
ond year o f “ HousePortland is a five-
year. $1 billion housing investment
plan between Fannie Mae and the
city to provide housing for 10,000
families.
Mayor Vera Katz, City Com m is­
sioner Gretchen Miller Kafoury, and
Fannie Mae Executive Vice Presi­
dent William Kelvie made the an­
nouncement Monday celebration at
the newly renovated M ultnomah
County Central Library
“As a city that has made a firm
commitment to meeting ambitious
housing goals, the help o f true part­
ners like Fannie Mae is invaluable -
- Portland cannot develop its target
75,000 housing units alone," said
Mayor Vera Katz “ H ousePortland's
accomplishments are no, only help­
ing us meet the needs o f our growing
city, bu, they help ensure that as we
grow, families will still be able to
afford to live here "
"The results we see today clearly
demonstrate that HousePortland is
not just about putting words on paper
- i, is about putting families into
h o m e s." sa id R e p re se n ta tiv e
Blumenauer. “ I, is encouraging to
see a private company like Fannie
Mae taking the initiative to work
with our local housing leaders to
make hom eow nership and rental
housing more affordable and acces­
sible to home buyers and families in
the Portland area."
Kelvie noted that the second-year
results under HousePortland repre­
sent a significant increase in the per­
centage of loans made to targeted
markets in Portland. By working with
the city, local lenders, and other hous­
ing partners, Fannie M ae has brought
more minority borrowers, low- and
m oderate-incom e borrowers, and
firs,-time buyers into the home-buy­
ing process.
Nearly half of the loans made were
to families earning less than $46,300
(the area median income;
36 percent of the loans made were
to first-time home buyers, and 14
percent of the loans were made to
minority households
Have you ever been turned down for housing
because of your race, color, religion, disability,
gender, national origin, or family status?
GALL 1-899-889-9777
AND FIND OUT YOUR RIGHTS.
I IC r$ A
Un|ted States
» J 'J L Z c * Department of
Argriculture
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United States
Department of
Housing and
Urban Development