$600,000 Granted to Build Financial Capacity in SF’s District 10

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The San Francisco Foundation and Core Community Benefits Agreement Implementation Committee Grant $600,000 to SF Housing Development Corp
Will build residents’ financial capacity in San Francisco’s District 10

SAN FRANCISCO – The San Francisco Foundation and the Core Community Benefits Agreement (CCBA) Implementation Committee announced a grant of up to $610,000 to the San Francisco Housing Development Corp (SFHDC) to provide asset-building and financial empowerment services to residents of District 10. This new comprehensive effort will improve credit scores, financial literacy, increase savings, and provide more working capital and small loans in D10.

“This is an exciting moment for the community,” said James Head, Vice President of Programs of The San Francisco Foundation. “Community residents identified through a number of listening sessions that financial resiliency and empowerment is the top priority. We’re ensuring that these funds meet that vision and need and will bring the best asset-building services in the Bay Area to District 10.”

The San Francisco Foundation provides technical assistance to the CCBA Implementation Committee and serves as the grantmaker for the CCBA funds, which come from the CCBA reached between San Francisco community groups and Lennar Urban, the managing partner of the group redeveloping Hunters Point Shipyard and Candlestick Point.

“The services SFHDC brings to District 10 preserve a promise made to our residents that they will benefit from the development of the Hunters Point Shipyard and Candlestick Point,” said Jacob Moody, chairman of the IC. “This is the beginning of a process to improve lives in a community that has suffered from much neglect.”

SFHDC has a 25-year history of helping people achieve their financial goals and is the core financial empowerment agency in Southeast San Francisco. The grant will support SFHDC’s Financial Empowerment Center and bring financial services to D10 residents to meet people where they are, support them in identifying financial goals, as well as potential obstacles and opportunities, and offer appropriate strategies, services and products to meet those goals.

”The communities in southeast San Francisco are in dire need of these services and have been for a very long time,” said Supervisor Malia Cohen, who represents District 10 in southeast San Francisco. “This grant will help empower some of the most vulnerable residents and truly improve their everyday lives. I am grateful for the San Francisco Foundation and CCBA’s commitment to serving the southeast and I look forward to working with them throughout this process.”

SFHDC and its partner will offer menu of service and product options to residents throughout a 2-year period, including intensive financial counseling for 100 participants, as well as outreach efforts including a Financial Capability Summit, sponsored by CollegeTrack, and a mobile financial fitness clinic consisting of a minivan (the “Financial Fitness Coach”) that will provide financial counseling throughout the D10 neighborhoods at a wide variety of community events throughout the two-year period and beyond.

“SFHDC is proud to have been selected by the Implementation Committee and The San Francisco Foundation to provide an innovative and comprehensive package of financial products and services that will have a lasting and measurable impact on the lives of District 10 residents,” said David Sobel, CEO of SFHDC. “We and our partners look forward to serving the community and empowering residents to define and achieve their individual financial dreams and goals.”

San Francisco Housing Development Corp (SFHDC) will serve as the lead agency and collaborate with project partners including SF Office of Financial Empowerment, Bayview Hunter’s Point Foundation for Community Improvement, Bayview Hunters Point Community Legal, Tax-Aid, College Track, Asian, Inc, New Generation Covenant Church, Salvation Army Golden State Division, Juma Ventures, Mission Asset Fund, Mission SF Community Financial Center, Opportunity Fund, Habitat for Humanity of Greater SF, BRIDGE Housing Corp, and Bayview Hunters Point Multipurpose Senior Services.

“In partnership with the City of San Francisco, we are creating long-awaited opportunities in District 10,” said Kofi Bonner, President of Lennar Urban. “We are meeting our commitments and we expect this grant will enable people to take advantage of those opportunities.”

About The San Francisco Foundation

The San Francisco Foundation (TSFF) is the community foundation serving the Bay Area since 1948, granting more than $800 million over the past ten years. Through the generosity and vision of our donors, both past and present, TSFF granted $89 million in fiscal year 2012. TSFF brings together donors and builds on community assets through grantmaking, leveraging, public policy, advocacy, and leadership development to make a greater impact in our community. By focusing on people, organizations, neighborhoods, and policy, advocacy and organizing, the Foundation addresses community needs in the areas of community health, education, arts and culture, community development, and the environment. In response to the economic downturn, TSFF is also focusing funding on safety net partners, job creation and training, and mortgage foreclosure relief and neighborhood preservation. The San Francisco Foundation serves San Francisco, Alameda, Contra Costa, Marin, and San Mateo Counties. www.sff.org

About the Core Community Benefits Agreement (CCBA) Implementation Committee
The Implementation Committee (IC), which was established by the CCBA, is comprised of the following organizations: San Francisco Organizing Project, Alliance of Californians for Community Empowerment, San Francisco Labor Council, Project Area Committee, Hunters Point Shipyard Citizens Advisory Committee, Lennar Urban and a community seat. The IC’s primary purpose is to provide oversight of community benefits programs for workforce development and affordable housing opportunities in District 10. www.d10benefits.org

News Source : $600,000 Granted to Build Financial Capacity in SF’s District 10

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