Housing Trust of Santa Clara County: Press



	Press release Contact: Maury Kendall, Housing Trust of Santa Clara County, (408) 436-3450, ext. 3 or cell (408) 691-9913 (San Jose, CA: May 14, 2004) Hunt for a home in Santa Clara County priced at $340,000 and you’ll spend a long time looking. But next week, the Housing Trust of Santa Clara County will celebrate the 1,000th first-time homebuyer helped by a Housing Trust loan—and the average home price of those 1,000 homes is just over $340,000. At a check-presentation ceremony in San Jose’s Evergreen neighborhood on Monday, May 17, 2004, representatives from the Housing Trust of Santa Clara County (HTSCC) and Hewlett-Packard will celebrate the Housing Trust’s 1,000th “First-time Homebuyer Loan.” Recipients of the $6,500, 0% interest loan are Jeremy Adams and Lynne Williams, both educators in San Jose’s Oak Grove School District. The couple is buying their first home in order to live close to the schools where they teach, and to more fully participate in their school-community. To date, a total of 308 educators have purchased their first home here with the Trust’s help; HTSCC has invested more than $7.2 million in first-time homebuyer assistance as part of its overall investment of $13.4 million in Santa Clara County, which has leveraged the creation of affordable housing opportunities valued at over $600 million. Hewlett-Packard has contributed $1.1 million to the Housing Trust of Santa Clara County, earmarking their funds for assistance to educators. Gary Fazzino, Hewlett-Packard’s Vice President of Government and Public Affairs, will be on hand Monday to congratulate Adams and Williams. About the Housing Trust of Santa Clara County The Housing Trust of Santa Clara County, an affordable housing investment trust, offers loans and grants to create affordable housing opportunities. In just over two years, the Trust has helped more than 1,000 families buy their first homes in Santa Clara County; enabled the development of hundreds of units of affordable rental housing, worth over $194 million; and helped create hundreds of units of shelter and special-needs housing in our community, making it possible for over 3,000 people like teachers, police officers, firefighters, nurses and civic employees to live in the communities they serve. The Housing Trust of Santa Clara County is a nonprofit, 501 (c)(3) corporation. About HTSCC’s First-time Homebuyer Loan Program Open to any occupation, the First-time Homebuyer Loan is a $6,500, 0% interest loan and can be used for closing costs and/or other assistance allowed by the primary lender. The loan is payable upon the sale of the property, the refinance or maturity of the first loan, which ever occurs first. To be eligible to receive a loan, the applicant must not have owned a home in Santa Clara County within a year from date of application; must have a gross annual household income that does not exceed: $126,600; must purchase a home costing no more than $550,000, and must use a recognized “Participating Lender” in the Housing Trust program. For more information, please see http://www.housingtrustscc.org/m2_s1.php or call (408) 436-3450, ext. 0. About the event What: Ceremonial Check Presentation honoring 1000th First-time Homebuyer Program loan When: 12:00 noon, Monday, May 17, 2004 Who: Representatives from the Housing Trust of Santa Clara County, Hewlett-Packard (a major program funder), and the loan recipients Where: Future home of Jeremy Adams and Lynne Williams, 5083 Sutter Creek Circle, San Jose ###