The Texas State Affordable Housing Corporation has received a $75,000 grant from Wells Fargo to support the restoration of foreclosed or distressed properties in El Paso.
TSAHC will partner with the local nonprofit El Paso Collaborative for Community and Economic Development to restore several foreclosed homes in the region that will then be sold to eligible families.
“Thanks to Wells Fargo’s generosity, TSAHC and El Paso Collaborative will be able to stabilize communities affected by foreclosure and give deserving families, like veterans in El Paso, the opportunity to own a home of their own,” says David Long, president of the
The 501 (c)(3) nonprofit organization, which provides housing programs that assists developers to build affordable housing, help low and moderate-income households purchase a home, and help borrowers facing financial hardship stay in their property, received a similar grant from Wells Fargo for the San Antonio area.
This grant is part of Wells Fargo’s 2013 Leading the Way Home program Priority Markets Initiative aimed to help revitalize troubled neighborhoods.
“We are excited to be partnering with TSAHC and Wells Fargo to not only revitalize several homes in our community but also find eligible families who are ready to become homeowners,” said Delia Chavez, executive director of the El Paso Collaborative for Community and Economic Development.
