Nehemiah Corporation of America Creates Comprehensive Relief Program
Leveraging All Aspects of Charitable And Community Reinvestment Work
Multifaceted nationwide nonprofit organization makes $1.6 million in aid available to Hurricane victims
Sacramento, CA - October 5, 2005-The Nehemiah Corporation of America (Nehemiah), the nation's largest nonprofit privately-funded provider of down payment gift assistance, today announced it is making $1.6 million in aid available to those that
have been devastated by the hurricanes of 2005. This program is not only consistent with Nehemiah's mission, but is also driven by a corporate value system
that calls for immediate and long-term response to the human suffering that we have all witnessed.
A multifaceted and far-reaching community development and affordable housing organization, Nehemiah
Corporation will leverage the work of its successful down payment assistance program, community reinvestment fund, community foundation and urban ministry
program to meet immediate needs and continue the rebuilding work of the Gulf States.
"Given the magnitude of the devastation of hurricanes Katrina and Rita, Nehemiah has created a comprehensive
relief program that reaches across all aspects of our charitable and community investment work," said Scott Syphax, president and CEO of Nehemiah.
"This relief program is designed with an understanding that rebuilding these communities requires partners who will be in it for the long haul.
Nehemiah is that kind of partner."
The Nehemiah Community Foundation has made a $100,000 donation to the National Urban League to support its Katrina Fund helping
to secure permanent housing and employment for victims of the hurricane. The National Urban League also is encouraging Congress to enact a "Katrina Victims Bill of Rights"
that would provide long-term economic assistance to the hurricane victims (similar to that provided to victims' families after 9/11),
and protect the voting rights of Katrina evacuees who have been forced to move to other states.
Marc Morial, President and CEO of the National Urban League said, "The National Urban League is proud to recognize
the generous grant from Nehemiah Corporation of America to support the League's Katrina Fund, created to help to the thousands of
displaced and financially burdened victims of the hurricane." Mr. Morial continued, "Nehemiah Corporation is taking
the lead in helping victims of the hurricane gain down payment assistance to achieve their dream of home ownership,
just as the National Urban League is bridging the gap in providing assistance to Katrina victims where the government
has been unable to offer care. I have known Nehemiah since my days as the Mayor of New Orleans and President of the U.S.
Conference of Mayors, and I am pleased to say that they have remained true to their goal of helping low-income and hard-working families
across America to purchase homes and achieve financial security for the long term."
Scott Syphax stated, "Nehemiah Corporation of America is proud to be one of the first major donors to the
National Urban League's Katrina Fund. Like Nehemiah, the Urban League has a proven record of meeting the long-term economic needs of the
most vulnerable Americans." Mr. Syphax continued, "Long after all emergency supplies have been distributed, we are confident
that the Urban League will be around to help Katrina victims with the difficult task fo rebuilding their homes, their communities
and their lives."
Utilizing its down payment assistance program to help people get back into homeownership Nehemiah will waive its
administrative processing fee for up to 1,000 homes in those regions affected by hurricanes Katrina and Rita. This equates to a $500,000 commitment by Nehemiah
to homeownership, economic empowerment and the rebuilding of these battered communities. Working with its builder, lender and
Realtor partners, Nehemiah will obtain commitments for the provision of down payment gift funds. These commitments are projected to exceed $4,000,000.
Since its inception in 1997, The Nehemiah Program has revolutionized the home buying process for income and
credit qualified homebuyers who do not have the resources to cover the down payment and closing costs of a home. By gifting homebuyers a grant of one to six percent
of the contract sales price of a home, Nehemiah has eliminated the down payment barrier to homeownership for these buyers. In the
process, Nehemiah has provided over $800 million in down payment assistance to more than 200,000 low-to moderate-income
families in the past 8 years, resulting in over $25 billion in real estate transactions nationwide.
Syphax also stated that the Nehemiah Community Reinvestment Fund will make available $1,000,000 in
lending capital to those regions that have been hard hit by these disasters. "Our commitment to relief from the effects of these
hurricanes is focused on comprehensive community development which includes financing for homes, apartments, day care centers
and other community development
facilities." In the coming years, Nehemiah will be there to continue the work of rebuilding entire communities."
Nehemiah's urban ministry program has already begun work to identify ministries that will specifically
serve those affected by hurricanes Katrina and Rita. "Next summer, Nehemiah is committed to placing college students in ministries
that serve those who have been displaced by these devatating natural disasters," said Syphax.
In total, Nehemiah Corporation of America and its affiliates are making $1.6 million in aid available to those
that have been devastated by the hurricanes of 2005.
About Nehemiah Corporation of America
Founded in 1994, Nehemiah Corporation of America, http://www.nehemiahcorp.org, is a Sacramento-based
nonprofit organization committed to empowering lives and enriching communities nationwide. Nehemiah transforms lives by increasing
homeownership opportunities for diverse populations, while maintaining its commitment to successful, responsible homeownership.
Nehemiah transforms communities by expanding its faith-based, charitable and community development initiatives
into underserved neighborhoods across America. In 1997, Nehemiah launched its flagship program, The Nehemiah Program,
to provide down payment assistance to homebuyers. To date, Nehemiah has provided over $800 million in down payment assistance gifts,
resulting in $25 billion in real estate transactions and has helped over 200,000 families and individuals achieve
their dream of homeownership. Committed to comprehensive community reinvestment, Nehemiah has fostered partnerships with
Habitat for Humanity, HomeAid America, the U.S. Conference of Mayors, the National Association of Counties and the National Urban League. In addition to providing
down payment gift assistance, Nehemiah has created other programs that work to revitalize communities including: Nehemiah
Community Reinvestment Fund, Nehemiah Community Foundation and Nehemiah Urban Ministry Initiatives.
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