Meriwest Sponsors Affordable Housing Grant for Habitat for Humanity Silicon Valley - $194,000 Awarded for Two Projects
06/19/08
SAN JOSE, CA - Meriwest Credit Union, one of the largest credit unions serving Silicon Valley, the Greater Bay Area and Tucson, Arizona, announced today that they have sponsored two successful Federal Home Loan Bank of San Francisco Affordable Housing Program grant applications on behalf of the Habitat for Humanity Silicon Valley. The two projects, comprising of 7 total units, will allow seven low income Santa Clara County families to finally own a home of their own and enjoy the benefits of homeownership.
Here are the details of the two projects:
- Delmas Street, San Jose - This is a 3 bedroom 1 and a half bath single family home that will be 1,200 square feet in size. The grant award for the Delmas Street Development was $50,000. This project will be called a "Women's Build," meaning all the construction of the unit, from the foundation to the roof, will be primarily performed by woman volunteers. Women's Build projects bring together women from all walks of life to actively address the problem of children in poverty by building homes, and providing an environment in which women can feel comfortable learning various construction skills they might not otherwise have the opportunity to learn.
- Cory Drive, Morgan Hill - This development will be for six single family homes. There will be four 3 bedroom units of 1,100 square feet, one 4 bedroom unit of 1,200 square feet and one 2 bedroom unit of 900 square feet. This will be a standard Habitat project involving construction by volunteers from throughout the community. The grant award for this development was $144,000.
Besides being affordable to families earning less than 60% of the area's median income, the homes will be California Green Point Rated and will be near public transportation and shopping areas. The families for the homes will be selected by a committee of community volunteers. Selected families must commit to a minimum of 500 hours of sweat equity in the construction of their homes.
"By helping Habitat for Humanity secure these grants, we show the deep commitment Meriwest Credit Union has to the Santa Clara County community." said Christopher Owen, President and CEO of Meriwest Credit Union, "We believe it is important for all the families in our community to have access to affordable housing. The Federal Home Loan Bank Affordable Housing Program allows our credit union to extend its charitable reach and make a positive impact well beyond what might have been possible on our own."
"Companies, such as Meriwest Credit Union, that partner with Habitat for Humanity Silicon Valley are making an investment in the community by helping empower families and local neighborhoods in the effort to make Santa Clara County a better place to live and work for all its citizens." said Robert Freiri, Executive Director of Habitat for Humanity Silicon Valley, "Community partnerships are critical to the success of any charitable effort. We are proud to partner with Meriwest and to invite them to be part of the ground breaking for this project."
About Meriwest Credit Union
Meriwest Credit Union, one of Silicon Valley's largest and established financial institutions, has been providing proactive, personal, convenient and innovative financial services to more than 90,000 businesses and families throughout the San Francisco Bay Area and Tucson, Arizona, for more than 46 years.
About Habitat for Humanity Silicon Valley
Habitat for Humanity Silicon Valley was formed in 1986 and is an affiliate of Habitat for Humanity International. Habitat for Humanity is committed to eliminating poverty housing throughout the world and welcomes people of all backgrounds, races, and religions to build houses together in partnership with families in need. Since our founding in 1986, Habitat for Humanity Silicon Valley, along with committed partner families and community supporters, has built 38 homes in the Santa Clara Valley, providing simple, decent homes to more hardworking, deserving families every year. With 12 homes currently in development, Habitat for Humanity Silicon Valley will soon celebrate the completion of its 50th home! Future projects include 44 more homes in San Jose, Santa Clara, Morgan Hill, Cupertino, and Mountain View.
Contact:
Meriwest Credit Union
Gregory Meyer
Community Relations Manager
408-365-6328
gmeyer@meriwest.com |
