ࡱ> `b_ Dbjbjss 0F!!!5555t5?. ? ? ? ? ? ? ?*AC ?-!%%% ?:?&&&%:8! ?&% ?&&: G<@.85%(#;>P?0?7;PD$&4PD(G<G<PD!<&D`b ? ?X&.?%%%%PD : COACHELLA VALLEY HOUSING COALITION 45-701 MONROE STREET SUITE G INDIO, CA 92201 Tel: (760) 347-3157 FAX: (760) 342-6466 Press Release For Immediate Release Date: February 11, 2009 Contact: John F. Mealey, Executive Director 760-347-3157 Nadia T. Villagrn, Director of Single Family 760-641-3307 The Coachella Valley Housing Coalition honors the hard work of 200 new Self Help homeowners with a block party at Los Fundadores Self Help Subdivision in Mecca.  Los Fundadores Grand Opening Block Party and CVHC NeighborWorks Charter celebration Who: 200 hardworking new homeowners What: Celebrating their commitment to homeownership and the completion of their community Where: Los Fundadores Self Help Subdivision (a.k.a. Huerta de Mecca), on Johnson Street between Avenue 64 and Avenue 66 in Mecca When: 5 PM, Wednesday, February 25, 2009 tc \l2 "Southern California Association of Non-Profit Housing Presents Award to Coachella Valley Housing Coalition Mecca, Calif. February 11, 2009 The Indio-based Coachella Valley Housing Coalition (CVHC) and 200 new homeowners will celebrate at 5 PM, Wednesday, February 25, 2009, the completion of Los Fundadores/Huerta de Mecca Self Help Subdivision with a block party in the new neighborhood in the agricultural community of Mecca. The 200 families to be honored represent 16 Self Help groups who built their homes in Los Fundadores. The last group of nine families moved in on February 12th. The subdivision is on Johnson Street between Avenue 64 and Avenue 66 in Mecca. The Block Party is an opportunity to showcase the hard work of the 200 new homeowners and to celebrate the Coalitions recent chartering as a member of the national organization, NeighborWorks America. Through the chartering, CVHC becomes a member of the NeighborWorks network, a national group of more than 230 community development organizations, including more than eighty members that are single- and/or multi-family homebuilders and remodelers. The proud homeowners built their homes using the Mutual Self Help program. In the program 10-15 families work together for up to twelve months to build their home and that of their neighbors. No families move in until all homes are built. The program funding is secured by the Coachella Valley Housing Coalition through the U.S. Department of Agriculture-Rural Development, which provides each family with a low-interest mortgage of 1 percent to market rate depending on family size and financial need. Families also qualify for mortgage subsidies of approximately $40,000-$50,000 from the California Housing Finance Agency Cal Home Program, the Joe Serna Jr. Farmworker Housing Grant Program, and the Federal Home Loan Bank of San Francisco Affordable Housing Program. The average sales prices for the homes are $155,000-$162,000. The average mortgages are $115,000-$120,000. The act of building the homes or sweat equity accounts for approximately 10 percent of the sales price of each familys home, covering the down payment. Funding for land acquisition and development of Huerta de Mecca was provided by Housing Assistance Council, Local Initiatives Support Corporation, Wells Fargo Bank and HCD- FWHG; construction and permanent financing, and technical assistance were provided by USDA-RDs Section 502 and 523 programs, AHP and HCDs Cal Home and FWHG Programs. One of the highlights of what we do is watching families move into their new homes and learning through their stories about the positive impacts the Self Help Program has had on the lives of their children, said John F. Mealey, Executive Director of the Coachella Valley Housing Coalition. We are honored to be a part of this effort to help 200 families achieve the dream of homeownership. All 200 homeowners are either low or very low income as dictated by USDA. According to USDA, a Riverside County family of four earning less than $53,300 a year is low income and a family of four earning less than $33,300 a year is very low income. Families also meet strict credit and financial history requirements. All of CVHCs Self-Help program participants meet with CVHCs loan packagers to prepare themselves for homeownership, and take preconstruction classes to learn how to build their home and maintain it post construction. The 200 families join a growing number of CVHC families that have gained the dream of homeownership. To date, CVHC has guided more than 1,300 families to homeownership, including more than 100 in Mecca alone. Cities with Self Help families now in construction or in planning include Mecca, Coachella, North Shore, Desert Hot Springs, Brawley and Salton City. #### About CVHC: Located in Indio, California, about one hundred miles east of Los Angeles, the Coachella Valley Housing Coalition (CVHC) is an award-winning non-profit housing development corporation dedicated to helping low and very-low income families improve their living conditions through advocacy, research, construction, and operation of housing and community development projects. CVHC has constructed more than 3,000 homes and apartments for low-income households in Riverside County. In addition, CVHC has developed childcare centers, after-school programs, and two medical clinics. It operates various services for its tenants and others including mariachi classes, English as a Second Language and Citizenship classes, an art program, and tennis and recreational programs. For more information, visit www.cvhc.org About NeighborWorks America: NeighborWorks America creates opportunities for people to improve their lives and strengthen their communities by providing access to homeownership and to safe and affordable rental housing. Since 1991, we have assisted nearly 1.2 million low- to moderate-income families with their housing needs. Much of our success is achieved through our support of the NeighborWorks network  more than 230 community development organizations working in more than 4,400 urban, suburban and rural communities in all 50 states, the District of Columbia and Puerto Rico. 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