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About Portland observer. (Portland, Or.) 1970-current | View Entire Issue (April 21, 2004)
o rt la nh © b s e tu e r________________________ PaseA6_________________________________________ ^ lîe Aprii 21.2004 \4 \c in s c unit diversity in ’’’"‘ P o r t ia n i» (O hsrvoev ( .ill 50.3-2KK-0033 adsöportlandob sener.com «Se SINCE 1947 W in e, c h e e se and remodeling co m p a n ies. Leading the Struggle -T H E OLDER THE BETTER - Affordable housing, a continuing fight Fine. Aged Appreciated. The best things in life always have time to mature Whether it's a 66 Merlot, a 92 Gorgonzola or a '47 Remodeling Company. And while the first two spend their time in a cave somewhere. Neil Kelly has garnered over 57 years of experience right here In the Northwest Helping more Orego -ns design, remodel, repair and by J aymee build than anyone else Need proof? We'll bring the wine C om m unity dev elo p m en t sadly p lants the seeds for g en trific a tio n , acco rd in g to Maxine Fitzpatrick, director of the Portland Community Reinvest ment Initiatives. The non-profit corporation, with ownership of more than 245 properties in the city, inadvert ently had a hand in displacing Call lor a FREi conoultallon - Portland 503-211-7411. Vancomr 310 096 2204 Visit tor ihowrooma - Eaatalds 104 N Alberta I I . , W oitilla: 19173 SW langy Rd www.mllktHy.com Neil Kelly O tt KevRank OFSIQ N /IU ILD REMOOELINQ HOME REPAIR TEAM WINDOWS A DOORS CUSTOM HOMES (503) «53*3344 OH CCB • IM S WA • NCN.KCI 1«702 Dreaming R. Cun T he P ortland O bserver OMs4 Hetty 2004 4.50% o' 3 0 Year Fixed Rate Loans "‘owning .69% APR) • Closing Cost Assistance Available your own none? • Local Lenders Dreams Come True visit www.OregonBond.us or call us toll free Oregon Housing fc Community Services 1.877.ST8.BOND African Americans who have called inner northeast Portland home for generations. With that in mind, Fitzpatrick has launched a home ownership program to help minorities and low-income residents, open first to tenants already involved with PCRI. “ We p ro b a b ly h elp ed gentrification somewhat because PCRI bought some of the worst developments in the community,” she said. Fitzpatrick came to Portland in 1993 from the Midwest, to help PCRI acquire and turn properties sitting empty into single-family homes for low-income families. “W e’re trying to level the play ing field,” Fitzpatrick said, quot ing statistics that only 38 percent of African Americans own their own homes in Portland, compared to 59 percent of whites. PRCI tenants are provided with the unique opportunity of build .... * ing a rental history while taking on many of the same responsi bilities that homeowners experi Maxine Fitzpatrick, PCRI director, discusses the need for ence such as balancing a budget affordable housing in Portland. and managing utilities. And while participants must dian income, with 80 percent as make less than 80 percent of the the cutoff for qualifying. median family income to qualify “Portland is becoming one of for the program, Fitzpatrick says the least affordable cities in the its accommodations are a higher nation,” said Fitzpatrick. standard than most other hous She encourages community ing for low-income individuals. members to take an interest in “You wouldn't know our prop urban planning to help keep - Maxine Fitzpatrick, erties are low-income by looking money allocated for affordable PCRI director at them,” she said. housing in the community. Securing affordable housing New Market Tax Credit, because For more information about recently suffered a blow, as PCRI local incomes have increased, to PCRI and its programs, call 503- was disqualified for a $350,000 less than 86 percent of the me- 288-2923. M^ a b le Houses ® Apartments We ’re trying to level the playing field. PDC HOM E REPA/R PROGRAM Interest rates as low as 3%* and no-cost construction advisors to help you along. The Portland Development Commission (PDC) has money and construction professionals available to help you with home repairs. Fix a leaky roof. Make electrical or plumbing repairs. Install a new furnace, or adapt your home to meet accessibility needs, or any other work that can help protect your most important investment - your home. T o g e t h e r w e ’ re c lo s in g t h e h o m e o w n e r s h ip g a p in c o m m u n it ie s a c r o s s t h e c o u n t r y . W o rk in g w ith P D C m eans: • In te r e s t ra te s as low as 3%* • N o o r low m o n th ly p a y m e n ts d e p e n d in g on y o u r in c o m e • N o -c o s t c o n s tru c tio n specialists to help you th ro u g h th e c o n s tru c tio n process • S p ecial fin a n ce p ro g ra m s th a t m ay q u a lify you e a s ie r th a n a n o th e r le n d e r • E lig ib ility d e te r m in e d in o n e pho n e call PDC has a range of programs that may meet your other needs, such as helping firs t time homebuyers to purchase and renovate a home o r helping existing homeowners who want to refinance and make home improvements G e t s ta rte d today! Call PDC at 503,823.3400; o r e-mail nhp@ pdc.us \u iit ///, P i l i l i t i 11(1 D i V t'IlllU III III Cum n/issinn < PDC) /iris ht lfu t i i n n i l x / y.i 'l’i 1 ii'uiii n„■•m /> /// t/h ( i/x u/ Punitimi iiitiin liiìii l i m i iiiilu u . i / / / ( / / lim ili .. w w w .p d c .u s /h o m e re p a ir PDC W orking together to build neighborhoods Proud to partner with the Bureau o f Housing and Community Development • Interest rate is determined by total household income. Three percent rate does not reflect $ 100 loan fee Homeownership in America is at an all-tim e high of 68 percent. But among m inorities, it is at 50 percent. Join us in our e ffo rt to close this gap. W ith our partners we are seeking solutions that break down barriers and expand hom eownership. Fannie Mae continues to develop innovative m ortgage options and technology to help our p a rtn e rs help m ore fa m ilie s g e t in to homes of th e ir own. We w ork w ith lenders, local governm ents, hom ebuilders, real estate professionals, n o n profit organizations, and other housing a d v o c a te s to im p ro v e c o m m u n itie s and c re a te m ore hom eownership and affordable rental housing opp ortun ities for all Americans. Visit w w w .fanniem ae.com /closethegap fo r more inform ation on how you can partner w ith us to help close the gap. ! ni i siini: in Pmlhintli lillu u r i i K annieM ae PDC w w w .f a n n ie m a e .c o m PO RTLA ND D E V ELO PM EN T C O M M IS S IO N I I
