First American partners with San Antonio alternative housing corporation
August 29, 2006
SANTA ANA, Calif., and SAN ANTONIO, – The First American Corporation (NYSE: FAF), a large provider of business information, today announced that its recent donation of $25,000 to San Antonio Alternative Housing Corporation (SAAHC), a nonprofit organization that has provided housing and support services for low- to moderate-income families in Texas for nearly 13 years, has enabled SAAHC to complete predevelopment work on a 59-unit subdivision located in San Antonio’s lowest income census tracts.
Last year, SAAHC provided more than 38 homes for first-time homebuyers in Texas through a partnership with the city of San Antonio, and was responsible for the creation, renovation or maintenance of 3,880 low-income rental units.
In 2006, with the help of First American and the support of other local businesses, foundations and government grants, SAAHC is constructing five homes each month within low- to moderate-income communities in Texas’ Bexar and Travis counties. In addition, the organization has developed 21 scattered-site rental units, three developments consisting of 18 units for individuals living with AIDS and 4,000 multifamily apartments.
During 2006, SAAHC estimates that through its services 225 Texas families will receive homeownership counseling, 50 families will receive affordable homes, 5,250 families will be housed through the SAAHC multifamily rental program and 450 homes owned by the elderly or physically challenged will be upgraded through the organization’s Repair and Modification Program (RAMP).
In addition to its homeownership counseling, and affordable housing construction and maintenance efforts, SAAHC also provides several social service programs for Texas families and individuals living in low-income communities, including: on-site community learning centers located within larger SAAHC apartment properties, after-school computer training, adult education and training in conflict resolution.
Since 2003, The First American Corporation and its subsidiary companies have led the settlement services industry in creating innovative programs to increase low-income and minority homeownership nationwide. As part of an ongoing commitment to help fund affordable housing and homebuyer education, First American’s donation to SAAHC on July 10, 2006, represents the company’s most recent philanthropic contribution, following a $30,000 donation to Neighborhood Housing Services of Phoenix on July 6, 2006. First American supports qualified organizations with grants and other contributions through the First American Homeownership Foundation, a nonprofit entity whose mission is to increase homeownership in traditionally under-served communities.
Source: The First American Corporation