Donation to help first-time home buyers
SAN LUIS, Ariz. — A $50,000 contribution is helping start up a program here that will allow low-income families make down payments on homes.
Nieves Riedel, a San Luis housing developer, donated the money to Pueblo Housing, a non-profit organization that is creating a $80,000 fund to help qualifying families that are firsttime home buyers.
“That donation is from the Riedel family,” the developer said. “We know that for a lot of families the costs are an impediment in achieving the dream of having their own homes, above all among our people, and we thought, why not give a little put to help those families.”
The donation is seed money for a fund that Pueb- lo Housing hopes will be built up over time with contributions from lenders and other home builders.
“Many times the lack of money to make the down payment is an obstacle preventing families from qualifying for a home loan,” Riedel said. “I challenge other developers and companies to help the grant program in order to help more families.”
Pueblo Housing is offering the grant program to first-time home buyers for the first time in its nearly 20-year history, although it has offered other forms of assistance to qualifying families in the past.
Agustin Tumbaga, a builder and member of Pueblo’s board of directors, said $10,000 from Riedel’s contribution will go toward administrative costs of the program, with the remaining $40,000 being paid out in grants. He said that amount is being matched by lenders and other buildings.
In all, 20 families will each receive a $4,000 grant
“We hope that there will be donors so that this program can continue,” Tumbaga said.
He said families can apply for the grants through lenders or construction companies. The applications will be evaluated by a panel of three people headed up by Yuma County Justice of the Peace Juan Manuel Guerrero.
For more information about the grant program, families can contact Tumbaga at (928) 920-4234. Information about the program also can be found at jycwalk.org.