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A P R IL I , 1998
Page A6
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$$$ Available For Home Improvement
Grants and Subsidized Loans
Most homeowners are unaware
that regardless o f their income there
are Federal, state and local programs
that will help them repair and re
model their homes.
Government at all levels recog
nizes that neighborhoods are the ba
sis o f life in our country. When a
neighborhood deteriorates, many
things happen both physically and
socially. W hen the hom es look
shabby, a neighborhood seems more
attractive to crime and criminals. An
area in decline is like a spreading
cancer. As homes become shabby
looking and in need o f maintenance,
the residents lost their desire to keep
up the neighborhood. Streets become
receptacles for trash, schools lower
their standards and very quickly the
selling price o f home in the area
drops sharply. This accelerates the
These programs are not restricted
to low-income people, slum areas or
urban neighborhoods. Owners o f
single or multi-family dwellings are
eligible. While the grants to not have
to be repaid, most o f the loans offer
low or no-interest, long terms and
low payments.
Some o f the other
hom e
im p ro v e
ments covered un
der these programs
are: attic and wall
insulation, new win
dows, outerwall sid
ing, security doors,
and locks, windows
guards, sidew alks
and masonry work, bathrooms and
kitchens, electrical and plumbing,
new roofs, gutters, and downspouts.
Consum er Education Research
cycle o f degeneration.
In order to keep and maintain the
nation’s housing and neighborhoods,
government at all levels have pro
grams to give homeowners money
(that does not have to be repaid) for
repairs or to lend them money at
below market lev
els or at no inter
est. In many areas
utility companies
will either do en
ergy conservation
work free or at low
cost and in other
places will lend
h o m e o w n e rs
money at no inter
est to pay the contractor o f their
choice for the necessary work. In
addition there are tax incentives to
promote efficient energy use.
ADVERTISE in
(Cl]e |J o rt lattò © bscruer
Call us at 288-0033
Centei, a national non-profit con
sumer group formed in 1969, has just
published the 192 large-page, 1996
edition ofConsumers Guide to Home
Repair Grants and Subsidized Loans
which lists over 6,000 sources of
loan and grant programs offered by
Federal, state and local government,
utility companies and others; typical
programs offered and the how to
qualify. Form letters for inquiries to
these loan and grant sources are in
cluded as well as detailed instruc
tions on determining your debt-to-
income ration for eligibility. ($19.95
plus $3 p&h from CERC GRANTS,
1980 Springfield Ave, Maplewood,
NJ 07040 or 800-872-0121). More
information can be found on the
W orld
W ide
W eb
h ttp ://
w w w .p la n e t.n e t/c e rc .o r E -M ail
cerc@ planet.net.
D o y o u needl a b r e a k
i n y o u r lo n g d i s t a n c e
ra te s Ì
ONE PLUS
CALL DIRECT
CALLING CARD
f'* 1 I
FREE DIGITAL MOTOROLA PAGER
’
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Every ntker O ne Piui O a ll from komri, 1 rn M inute« or lx*«« will r oil
<5 C e a is a M inute. AH otker callo will r.oal I Q C c a Q a M inute.
2 4 H ou rs a D ay, 7 D ays a W eek
A n y w h e r e in (h e U S A
H'
Oregon Investors Fund Critical Affordable Housing
The Oregon Corporation for Af
fo rd ab le H ousing (O C A H ) a n
nounced today the closing o f O r
egon Equity Fund 111 fo r$ 2 6 million,
achieving a total o f $63 million since
the inception o f the Fund in 1993.
These new resources will finance
m ore dw ellings for O regonians
throughout Oregon. More than 1,500
Oregonians now live in safe and af
fordable housing than did five years
ago when OCAH was founded as a
result o f the first two funds and the
combined efforts o f OCAH and its
partner investors.
The latest round o f financing is
com posed o f com m itm ents from
Wells Fargo Bank for $10 million;
Fannie Mae for $6 million; Standard
Insurance Company for $5 million,
and W ashington Mutual Bank for $5
million. Standard Insurance Com
pany, Fannie Mae and Washington
Mutual Bank participated in the early
Funds I and II. First Interstate Bank
participated in Fund I. Wells Fargo
has increased its predecessor’s com
mitment to Oregon families in the
subsequent Funds.
“ I his is unprecedented in the field
o f affordable housing: one to be a
a b le h o u s in g th r o u g h o u t th e
N o rth w est, but p rin c ip a lly in
O regon. To date, O C A H ’s fi
n an cial p a rtic ip a tio n and e x p e r
tise has w orked in p a rtn e rsh ip
w ith o th e rs to c re a te o v e r 700
d w e llin g s in the fo u r c o rn e rs o f
non-profit syndicator o f tax credits;
and two, to have attracted the level
o f financing it has in just five years,”
stated John Olsen, civic volunteer
serving as chairman and CEO o f
OCAH. “The fact that the same
institutions continue to invest in hous
ing through OCAH is a testament to
the capabilities o f our staff to ensure
that their investment is meaningful.”
“Housing has long been acknowl
edged as the single most critical fac
tor in stabilizing a family, particu
larly children. This allows adults
and children alike to focus on those
things that help to equip them to
participate more fully in O regon’s
quality o f life," noted Deborah
Saweuyer-Parks, OCAH President
and COO. “W e’ve been blessed
with enlightened financial partici
pants who understand that dynamic
and see it as a wise investment for
themselves and their constituents as
well as for the families this housing
benefits.”
In ad d itio n to raisin g scarce
c a p ita l, O CA H w orks in p a rtn e r
ship with other com m unity-based
o rg a n iz a tio n s and p riv a te d e v e l
o p ers to c re a te d m ore a ffo rd -
’
/
Call 1-800-583-4238 for drGil.
“A SAVINGS YOU GAN SEE”!
14th Annual Oregon Fair Housing Conference
Monday,
April 2 7 , 1998
8:30 am - 6 :3 0 pm
Tuesday,
April 2 8 , 1998
9:OO am - 1:30 pm
Sheraton Portland Airport Hotel
8235 N.E. Airport Way, Portland, Oregon
“W O O D E D A C R E S ” $ 1 4 9 ,0 0 0
C elebrate 30 Years of Civil Rights in Housing by Attending
the Largest Civil Rights Forum in the Northwest.
$67/SQUARE EOOT/GREAT VALUE
For R egistration Inform ation:
Call Michael Anderson at (503) 412-6000 Voice/TDD
Tri-level with 2 separate living areas. Offers potential for extended
family or in-law quarters. Remodeled kitchen. 10,000+square foot lot.
$3,000 carpet allowance.
call 5O3-7O8-55IO or 1-888-288-
Sponsored by the Fair Housing Council o f Oregon
5432
«•
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visitors to the university. The project
is expected to be completed by July
1999.
Busse Nutley, chair o f the Hous
ing Finance Commission, is also ex
cited about the financing. ‘ The Hous
ing Finance Commission is pleased
to finance these much-needed im
provements for Seattle University,’
saidNutley. “ Ihe project offers many
benefits both to students who will be
able to spend more time on campus
and to Central Area residents, who
will benefit from decreased parking
congestion on streets near the cam
pus and increased support o f eco
nomic development programs along
12th Avenue.”
Ihe Washington State Housing Fi
nance Commission provides below-
market financing to buy, build or pre
serve affordable housing and nonprofit
cultural and social service facilities.
The Commission builds partnerships
with the private sector to raise capital
needed to further these social and eco
nomic objectives at no cost to the
taxpayers o f Washington state.
2 Z P r o S e r v ic e s
No Job To Big or Small
Free Estimates
15% Discounts to Seniors
Phillip Johnson
Phone: (503) 335-3786
Fax:(503)288-0940
Monthly Special
25% Oft Tree Trimming
GREAT HOUSE, GREAT PRICE &
GREAT LOCATION
Three bedroom, two baths, vaulted ceilings in
living/dining and master bedroom. Large
vaulted entry with hardwood & alcoves. Bayed
window in living room. On culde-sac, brick
accent, real wood trim, fenced & wood deck &
large private side yard. Built 1990. $159.900.
#HDC12836.
♦Hauling *Gutters
♦Yard Maintenance
♦Tree Trimming
M o n th ly S p e c i a l
Tree Triming @ 25% Off!
L
Call Debbie (503) 708-5510 or 1-888-288-5432.
THE SKY IS THE LIMITIN CUSTOMER §£RVJC
No Problemi
(503) 708-5510
1-888-288-5432 Pager
1-800-536-4450 Office
1-360-574-4513 FAX
You Name U No Problèmi ★
t DREAlMfERS,
I tfill fitod that dream A ?
house you want In thetmie w
v m w a n t a t »he nrirw X i
<
C o lu m b ia G o r g e
$ 2 2 9 ,9 0 0
SKAMANIA! CHALET WITH 11+ACRES
Columbia Gorge property with 6 acres, fenced and 12 X 16 horse bam.
House has 3 bedrooms. 2 baths with 2,000 SF deck off master suite. Only
20 miles to 1-205 access.
r
5432.
I
/
!
A s k m e how ?
our state: from P o rtla n d ’s c e n
tral c ity south to M ed fo rd , as far
w est as C an n o n B each and N ew
p o rt, and east to O ntario.
For more information, call O r
egon Corporation For Affordable
Housing at (503) 288-7171
Seattle University to
Build Student Housing
A $24 million tax-exempt bond
financing on behalf o f Seattle U ni
versity Auxiliary Services, a non
profit organization, was successfully
completed today, according to the
W ashington State Housing Finance
Commission. The proceeds o f the
bonds will be used to construct a
202-unit student apartment building
and a 587-stall parking garage. Both
facilities will be located on the cam
pus o f Seattle University on East
James Way, in Seattle.
“Obtaining tax-exempt financing
through the Housing Finance Com
mission for student housing and ex
pansion o f on-campus parking facili
ties will enable Seattle University to
proceed with a very exciting and
much-needed expansion o f Seattle
University, “ said Denis Ransmeier,
chief financial officer o f Seattle Uni
versity. "B y using this type o f fi
nancing, we have been able to keep
our overall costs down, which pro
vides more valuable resources for
our educational programs."
The p ro ject w ill be financed
through the Washington State Hous
ing FinanceCommission’sNonprofit
program. The program provides tax-
exempt financing for rental housing
developed and owned by nonprofit
organizations for low-income and
spccialA eeds populations and non
profit capital facility projects. The
bonds were publicly offered and
backed with a letter o f credit from
Seafirst Bank.
Bond proceeds will be used to pay
for the construction o f two student
facilities. The 202-unit student dor
mitory will be comprised o f a mix o f
studios, one-bedroom, two-bedroom
and four-bedroom units. The park
ing garage will provide 587 parking
spaces for students, faculty, staff and
'•'Z
Please call 503-708-5510 or 1-888-288-