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Nehemiah Corp. of America
Providing Housing and Creating Jobs Through Community Investment
Comstock's
December 2005
It's simply a matter of vision. Some see a nearly abandoned
cannery at Seventh Street and Richards Boulevard, serving only as additional blight in a largely
neglected neighborhood. Nehemiah Corp. of America envisions a 52-acre, mixed-use urban development
brimming with housing, shops and small businesses. Fortunately for all concerned, Nehemiah is more than willing
to provide the capital needed to see that vision spring to life.
Nehemiah also helps others to realize their visions through the work of its affiliate, the
Nehemiah Community Reinvestment Fund. NCRF uses its assets, along with capital generated
from institutional investors, to provide affordable housing, stimulate economic activity and create
jobs in low- and moderate-income neighborhoods through loans from its revolving loan fund.
The St. HOPE Development Co. is a good example of the NCRF loan fund in action. NCRF
made a construction and permanent loan of more than $1 million to help with the rehabilitation of a deteriorating
theater and hotel in the Oak Park neighborhood. With NCRF's crucial support, St. HOPE (founded
by Oak Park native and former Phoenix Suns basketball star Kevin Johnson) was able to build a dozen
market-rate apartments and attract Starbucks and three new retail businesses to the 40 Acres project.
The renovated Guild Theater has become an important local artistic and cultural center, and the project
itstelf was cited as a factor in a for-profit developer's decision to build 10 market0rate homes in Oak Park.
NCRF recently stepped in to help the Kenesset Israel Torah Center with the rebuilding of its orthodox
Jewish synagogue in Sacramento. The original synagogue was destroyed in a hate crime six years ago. NCRF's loan will
pay the remaining construction costs for the new 3,000 square-foot facility.
Nehemiah also supports community revitalization through its private, real estate-based equity fund,
the Nehemiah Sacramento Valley Fund. NCRF reaised nearly $30 million from corporate investors to reinvest
in the Sacramento metropolitan area. NSVF's first investment was in the Ironworks project in West Sacramento,
providing 188 new loft-style and cottage-type homes within walking distance of downtown Sacramento. It also
anticipated the pressing need for affordable housing for low- and moderate-income first-time
homebuyers and invested significantly in condominium conversions in the region to meet this demand.
The work of NCRF and its programs has produced loans and investments totaling nearly $60 million
to generate more than $550 million in projects. Additionally, these loans and investments have
created more than 2.6 million square feet of commerical space, nearly 3,000 housing units and 10,000 jobs.
Since 2000, the Nehemiah Community Foundation has provided nearly $5 million to charities -
including awarding $250,000 in college scholarship grants to 46 outstanding low-income high school
graduates from Sacramento-area communities.
The parent company of this multifaceted nonprofit organization, the Nehemiah Corp. of America,
is one of the most influential nonprofit affordable-housing organizations in the United States.
Since its inception in 1994, the company has awarded more than $800 million in down payment assistance gifts,
helping more than 200,000 individuals and families achieve the dream of home ownership.
Although Nehemiah Corp. has no direct denominational relationship, its mission
is based upon Judeo-Christian principles. It's services are provided to all people, regardless of belief or
affiliation. Just as the prophet Nehemiah was committed to rebuilding the walls of Jerusalem,
the Nehemiah Corp. is dedicated to enriching communities across America through economic empowerment and the
provision of affordable housing and responsible home ownership.
It's simply a matter of vision.
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