Nonprofit Community Development Organization
It is our mission to help improve the quality of life for economically disadvantaged people, by providing quality affordable housing, career training, job placement, life skills, counseling services and access to resources in the community. We established the Community Builders Association, which is a subsidiary designed to provided services in the community through our Nonprofit Resource Center.
Shield of Faith Economic Development is a 501(c)3 nonprofit organization whose primary objectives are to partner with several community development agencies and collaborate on projects that will help bring about neighborhood revitalization to under-served and blighted communities throughout the United States.
Since 1998 our organization has begun to build a solid corporate foundation and establish a positive reputation in the community. We will continue to collaborative with several community development agencies, in an effort to provide an array of services that are responsive to community identified needs.
Our goals are to develop effective projects that are sustainable and implement best practices and industry standards. In an effort to help individuals and families gain the critical skills and assistance they need to be productive members of society, our Nonprofit Resource Center actively collaborate with several nonprofit organizations and for profit corporations on joint venture projects.
Our housing development mission is to provide basic needs and services to aid the homeless and near homeless and low-income populations who are willing to commit to improving their lifestyle.
Community Advisory Board
Critical decisions about affordable housing projects and community development should be made by a diverse group of informed citizens in the community. Our Community Advisory Board is diverse, committed, and informed to provide the input needed to meet this challenge.
A clear set of guidelines for the recruitment process will include an assessment of the social, municipal, environmental and financial impacts of the proposed project.
Fiscal Responsibility: We believe that fiscal accountability, responsibility, and prudent stewardship of funds is essential in building public trust.
Ethics and Integrity: We believe that ethics and integrity are foundation blocks of public trust and confidence and that all meaningful relationships are built on these values.
Effective Governance: To ensure strong, effective leadership of our organization, by maintaining a highly skilled Board of Directors is our cornerstone for success.
Asset Management: To ensure the long-term financial and physical health of Shield of Faith Economic Development properties.
Visionary Leadership and Planning:
We believe that the very essence of leadership is to be visionary and to plan for the future.
Excellence and Quality in Service Delivery: We believe that service is our reason for being and strive to deliver quality services in a highly professional manner.
Our primary mission is to develop community development projects that will help bring about neighborhood revitalization to under-served and blighted communities throughout California and the United States.
Shield Village & Tivoli Plaza Low Income Inter-generational Housing Project for Seniors & Families: On June 28, 2007, a ground-breaking ceremony was held commemorating the start of construction on a $23.0 million 90-unit intergenerational facility. This project represents a joint venture between the Community Builders Association - a subsidiary of Shield of Faith Economic Development, The Related Companies, Union Bank, Shield of Faith Christian Center and the City of Pomona.
Our organization has developed two tax credit affordable housing projects totaling 152 units. The senior component, Tivoli Plaza, has approximately 63 units, comprised of 80% one bedroom units and 20% two-bedroom units. These units are located in one 3-story building consisting of stacked flats.
The innovative family component, Shield Village, has approximately 27, 2-story town homes with three bedrooms and two and a half baths. Of the total, 19 town homes are approximately 1,220 sq. ft. in size with a 2-car attached garage.
We are so excited about our second brand new $20 million dollar affordable housing project which has been built on West Holt Ave in Pomona, California. The Parkside Family Apartments is a new construction project of 62 low income rental units located at 934 & 942 West Holt Avenue in the City of Pomona.
The project has been financed with 9% tax credits low interest loans from the Pomona Housing Authority, a long term residual receipts loan from Tri-City Mental Health Authority’s (TCMHA) MHSA housing loan account administered by Cal HFA, conventional construction and takeout loans.
We were also recently granted a 16 unit affordable housing apartment complex in the City of Compton California, from the Los Angeles County Community Housing Development Commission.
We are a Certified Community Housing Development Organization (CHDO) with the Los Angeles County Community Development Commission as an official HUD Community Housing Agency.
We also have CHDO designation through the City of Pomona California to purchase, renovate and resell homes to low-income families who qualified under the U.S. Department of Housing & Urban Development (HUD) Home Rules.
The HOME Investment Partnership Program is the largest federal block grant to state and metropolitan local governments designed exclusively to create affordable housing for low-income households.
Who Needs Affordable Housing?
Families who pay more than 30 percent of their income for housing are considered cost burdened and may have difficulty affording necessities such as food, clothing, transportation and medical care. An estimated 12 million renter and homeowner households now pay more than 50 percent of their annual incomes for housing.
A family with one full-time worker earning the minimum wage cannot afford the local fair-market rent for a two-bedroom apartment anywhere in the United States.
Where Can Individuals Find Assistance?
Individuals looking for assistance can:
through the U.S. Department of Housing & Urban Development.
What is an affordable housing program?
Low Income Housing Tax Credits (LIHTC) is a Federal housing assistance program that provides tax incentives to owners of affordable housing. The program does not provide direct assistance to renters and is strictly used to finance the construction.
The advice of a housing expert from a HUD-approved housing counseling agency can be invaluable during the foreclosure prevention process, with so many financial terms to remember and a process that can be complicated. Our team of experts will guide you through the process of completing your Homebuyer Education Course online.
sign up for an online homebuyer education course and gain expertise from our own experienced advisors and external professionals, including mortgage loan officers, realtors, settlement services, adult education specialists and, last but not least, homebuyers!
The course consists of topical sections, videos, interactive modules, animation, pre and post assessments, and a wealth of information, as well as a personal session with an advisor for any questions. The advisor certifies your course completion and then issues the certificate of completion.
The online homebuyer education course meets all of the same HUD requirements of the "workshop" or "in-person" classes.
There is no charge to work with a HUD approved counseling agency. Our housing experts can provide a range of services, such as: Identifying mortgage assistance options that are suitable for your situation.
Frequently Asked Questions from Families in Home-buyers Education Classes includes:
1. How Do I Know If I'm Ready To Buy A Home With My Financial Situation?
2. What Steps Do I Take To Begin The Process of Buying A Home?
3. How Does Purchasing A Home Compare With Renting?
4. How Much Is The Maximum Mortgage I Can Afford To Pay?
5. How Do I Select The Right Real Estate Agent To Process The Purchase?
As a Certified Community Housing Development Organization, (CHDO) for the U.S. Department of Housing & Urban Development (HUD) our organization has been awarded $825,000.00 to purchase, renovate and resell homes for low-income families in Los Angeles County.
After the initial success of our CHDO Housing projects, the City of Pomona increased the available funding award to our organization totaling $1,631,973.00. We have recently been awarded additional CHDO funding from the City of Pomona.
Copyright © 1998 - Shield of Faith Economic Development