First American Partners With San Antonio Alternative Housing Corporation
—$25,000 Donation Supports Affordable Housing Programs for Low- to Moderate-Income Families in Texas—
SANTA ANA, Calif. and SAN ANTONIO, August 29, 2006
The First American Corporation (NYSE: FAF), America’s largest provider of business information, today announced that its recent donation of $25,000 to San Antonio Alternative Housing Corporation (SAAHC), a nonprofit organization that has provided housing and support services for low- to moderate-income families in Texas for nearly 13 years, has enabled SAAHC to complete predevelopment work on a 59-unit subdivision located in San Antonio’s lowest income census tracts.
Last year, SAAHC provided more than 38 homes for first-time homebuyers in Texas through a partnership with the city of San Antonio, and was responsible for the creation, renovation or maintenance of 3,880 low-income rental units.
In 2006, with the help of First American and the support of other local businesses, foundations and government grants, SAAHC is constructing five homes each month within low- to moderate-income communities in Texas’ Bexar and Travis counties. In addition, the organization has developed 21 scattered-site rental units, three developments consisting of 18 units for individuals living with AIDS and 4,000 multifamily apartments.
“Working alongside San Antonio Alternative Housing Corporation, we are proud to witness the positive changes underway in our communities,” said Jessica Verduzco, Texas Emerging Markets director for First American. “It is a privilege to support SAAHC’s commitment to build communities, not just houses, by investing in programs that will be instrumental in increasing long-term homeownership for deserving families.”
During 2006, SAAHC estimates that through its services 225 Texas families will receive homeownership counseling, 50 families will receive affordable homes, 5,250 families will be housed through the SAAHC multifamily rental program and 450 homes owned by the elderly or physically challenged will be upgraded through the organization’s Repair and Modification Program (RAMP).
In addition to its homeownership counseling, and affordable housing construction and maintenance efforts, SAAHC also provides several social service programs for Texas families and individuals living in low-income communities, including: on-site community learning centers located within larger SAAHC apartment properties, after-school computer training, adult education and training in conflict resolution.
Since 2003, The First American Corporation and its subsidiary companies have led the settlement services industry in creating innovative programs to increase low-income and minority homeownership nationwide. As part of an ongoing commitment to help fund affordable housing and homebuyer education, First American’s donation to SAAHC on July 10, 2006, represents the company’s most recent philanthropic contribution, following a $30,000 donation to Neighborhood Housing Services of Phoenix on July 6, 2006. First American supports qualified organizations with grants and other contributions through the First American Homeownership Foundation, a nonprofit entity whose mission is to increase homeownership in traditionally under-served communities.
San Antonio Alternative Housing Corporation is a nonprofit organization that was established in November 1993 to provide housing and support services for low- to moderate-income communities in Texas, with special emphasis on Bexar and Travis counties. Governed by a nine-member board of directors and comprised of a membership constituency where at least one-third of the members are low-income individuals, SAAHC has been designated as a Community Housing Development Organization (CHDO) by the cities of San Antonio and Austin. The organization operates several programs geared toward building communities, including first-time homeownership and homebuyers education programs, a rental program, multifamily developments, a resident services program that works with families and youth and a program designed to help the elderly and physically challenged with minor home repairs.
The First American Corporation (NYSE: FAF), a FORTUNE 500® company that traces its history to 1889, is America’s largest provider of business information. First American combines advanced analytics with its vast data resources to supply businesses and consumers with valuable information products to support the major economic events of people’s lives, such as getting a job, renting an apartment, buying a car or house, securing a mortgage and opening or buying a business. The First American Family of Companies, many of which command leading market share positions in their respective industries, operate within five primary business segments, including: Title Insurance and Services, Specialty Insurance, Mortgage Information, Property Information, and Risk Mitigation and Business Solutions. With revenues of $8.1 billion in 2005, First American has approximately 2,100 offices throughout the United States and abroad. More information about the company and an archive of its press releases can be found at www.firstam.com.
- Contact Information
- David Schulz
- Corporate Communications
- The First American Corporation
- Contact via E-mail
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.