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