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Friday, December 6, 2013

Visionary Home Builders Receives Generous Grant

Hundreds of Stockton families could soon call themselves homeowners thanks to a generous grant from Wells Fargo to Visionary Home Builders of California, Inc. (VHB). The $100,000 Leading the Way Home® Priority Markets Initiative Grant will allow VHB to broaden its commitment in addressing the on-going need of providing affordable housing throughout the region. A check presentation ceremony will be held Wednesday, December 18, at 11:00 a.m. at Diamond Cove Townhomes II located at 5506 Tam O’Shanter in Stockton.

“The challenges within our industry and community have dramatically changed throughout the past decade,” says Carol Ornelas, President and CEO of Stockton-based Visionary Home Builders. “There are many within our community who continue to be in great need of affordable housing, as well as educational classes. This generous grant from Wells Fargo could not have come at a better time. It will give us to opportunity to meet these needs within these communities."

This grant will make it possible for VHB to provide 400 Stockton residents with homebuyer education and one-on-one counseling; offer 10 low- to moderate-income consumers reentry into the housing market through the Bounce Back to Homeownership: Option to Own program; rehabilitates and sells foreclosed or abandoned homes through the Neighborhood Stabilization Program to low- and moderate-income individuals.

Wells Fargo’s Leading the Way Home® community outreach program helps local market stabilize their current housing situation while advancing homeownership to build strong communities into the future. This year, the financial services leader awarded $6 million to 67 nonprofits nationwide, with $250,000 invested in the San Joaquin Valley cities of Modesto, Stockton, and Bakersfield. Since 2009, the Leading the Way Home® Priority Markets Initiative grant program – funded through the Wells Fargo Housing Foundation – has provided more than $25 million to nearly 100 communities.

VHB, has a successful history of building or renovating housing for low-to-moderate-income homebuyers, was identified by Wells Fargo as being in need of extra help with a large-scale neighborhoods revitalization project. Wells Fargo’s Leading the Way Home® community outreach program helps communities stabilize their current housing situation while advancing homeownership to build strong communities into the future.

About Visionary Home Builders
Founded in 1983, Visionary Home Builders (VHB) is a nonprofit housing development company and housing counseling agency based in Stockton, California. It is the leading agency of its kind in the San Joaquin Valley, having developed more than 1,200 units of rental housing and has renovated/built more than 500 single-family homes. Visionary Home Builders has generated more than $700 million dollars in grants and private dollars to develop affordable housing in the valley. VHB is a HUD approved Housing Counseling Agency. For more information call 209-466-6811 or visit the website at www.visionaryhomebuilders.org.

 

Author: Caravan News
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