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Real Life Stories
 Profile: CIP Advance Helps Revitalize Neighborhood
Product: Community Investment Program (CIP) credit funds mortgages for low- and moderate-income households to finance first-time homebuyer programs, to create and maintain affordable housing, and to support other community economic development activities. The Bank provided a $3.6 million CIP advance through its member, Washington Mutual Bank, for permanent financing and rehabilitation.
Partners: Glad Tidings Church and Washington Mutual Bank
Faith Manor Apartments is located in a Northern California neighborhood that was once besieged by drugs and violence. Things are very different now, thanks in large part to the efforts of Bishop Jerry Macklin of Glad Tidings Church of God in Christ, which is located in the neighborhood.
Bishop Macklin and his congregation have tackled the ills of the neighborhood in a variety of ways. The church is the centerpiece of a larger effort to provide safe, affordable housing, community economic development, and a renewed sense of pride throughout the neighborhood. Besides the sanctuary, the Glad Tidings campus includes a comprehensive job search center, an education complex with state-of-the-art computer rooms, a childcare center, and office space. Most of the educational efforts are focused on adults. Among other services, Glad Tidings offers life skills and career training to welfare-to-work program participants to help them to obtain higher paying jobs.
To create Faith Manor Apartments, the church purchased a blighted apartment complex across the street from the Glad Tidings campus and renovated it into a property in which residents can take pride. Plans to add a health and fitness center are in the works. The long-term goal is for the campus to provide a family life center to offer a safe, community-oriented location where families can gather in the evening to do homework or research, exercise, job search, network, or simply be among friends.
In addition to the efforts of his congregation, Bishop Macklin credits the residents of the neighborhood for the turnaround. "People often run from problems. We’ve encouraged people in the neighborhood to take ownership and become part of the solution," he says. "We’ve helped them understand that instead of running away, you can transform where you are. When all of us come together, we are stronger together."
October 2004
Back to Real Life Stories
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Real Life Stories
Profile: CIP Advance Helps Revitalize Neighborhood
Product: Community Investment Program (CIP) credit funds mortgages for low- and moderate-income households to finance first-time homebuyer programs, to create and maintain affordable housing, and to support other community economic development activities. The Bank provided a $3.6 million CIP advance through its member, Washington Mutual Bank, for permanent financing and rehabilitation.
Partners: Glad Tidings Church and Washington Mutual Bank
Faith Manor Apartments is located in a Northern California neighborhood that was once besieged by drugs and violence. Things are very different now, thanks in large part to the efforts of Bishop Jerry Macklin of Glad Tidings Church of God in Christ, which is located in the neighborhood.
Bishop Macklin and his congregation have tackled the ills of the neighborhood in a variety of ways. The church is the centerpiece of a larger effort to provide safe, affordable housing, community economic development, and a renewed sense of pride throughout the neighborhood. Besides the sanctuary, the Glad Tidings campus includes a comprehensive job search center, an education complex with state-of-the-art computer rooms, a childcare center, and office space. Most of the educational efforts are focused on adults. Among other services, Glad Tidings offers life skills and career training to welfare-to-work program participants to help them to obtain higher paying jobs.
To create Faith Manor Apartments, the church purchased a blighted apartment complex across the street from the Glad Tidings campus and renovated it into a property in which residents can take pride. Plans to add a health and fitness center are in the works. The long-term goal is for the campus to provide a family life center to offer a safe, community-oriented location where families can gather in the evening to do homework or research, exercise, job search, network, or simply be among friends.
In addition to the efforts of his congregation, Bishop Macklin credits the residents of the neighborhood for the turnaround. "People often run from problems. We’ve encouraged people in the neighborhood to take ownership and become part of the solution," he says. "We’ve helped them understand that instead of running away, you can transform where you are. When all of us come together, we are stronger together."
October 2004
Back to Real Life Stories
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