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HERE.I SEE A LOT OF, UH, FAMILIAR FACES AND SOME NEW ONES TOO.
UH, FOR THOSE OF YOU WHO DON'T KNOW ME, MY NAME IS LAURA AMI.
I AM THE EXECUTIVE DIRECTOR OF LISC HOUSTON.
UH, LISC HOUSTON IS THE LOCAL OFFICE OF LOCAL INITIATIVE SUPPORT CORPORATION.
WE ARE ONE OF THE COUNTRY'S LARGEST COMMUNITY DEVELOPMENT ORGANIZATIONS, HELPING TO FORGE VIBRANT, RESILIENT COMMUNITIES ACROSS AMERICA.
WE WORK WITH RESIDENTS AND WITH OUR PARTNERS TO CLOSE SYSTEMIC GAPS IN WEALTH AND HEALTH AND OPPORTUNITY AND ADVANCED RACIAL EQUITY SO THAT PEOPLE IN PLACES CAN THRIVE.
SINCE 1989, LISC HAS INVESTED $502 MILLION AND LEVERAGED AN ADDITIONAL $1.4 BILLION INTO OUR HOUSTON COMMUNITIES.
THESE INVESTMENTS HAVE CREATED MORE THAN 10,000 HOUSES AND APARTMENTS AND 2 MILLION SQUARE FEET OF COMMUNITY SPACE AND COMMERCIAL SPACE.
SO IN THE FALL OF 2021, LISC CONVENED AVENUE FIFTH WARD COMMUNITY REDEVELOPMENT CENTER CORPORATION, I'M SORRY, HOUSTON, HABITAT FOR HUMANITY, TEJANO CENTER FOR COMMUNITY CONCERNS, THE CITY OF HOUSTON'S HOUSING AND COMMUNITY DEVELOPMENT DEPARTMENT, AND THE TEXAS STATE AFFORDABLE HOUSING CORPORATION.
AS THE HARRIS COUNTY OWNERSHIP COLLABORATIVE AND BEGAN A PLANNING PROCESS TO DEVELOP A SET OF STRATEGIES AIMED AT SOLVING RACIAL HOME OWNERSHIP GAPS ACROSS HOUSTON AND HARRIS COUNTY.
TODAY, THIS COLLABORATIVE IS EXCITED TO ANNOUNCE THE LAUNCH OF A NEW INITIATIVE TO EXPAND HOME OWNERSHIP OPPORTUNITIES FOR BLACK, HISPANIC, AND OTHER UNDERSERVED INDIVIDUALS AND FAMILIES USING THESE STRATEGIES.
THIS INITIATIVE IS MADE POSSIBLE THANKS TO A $7.5 MILLION GRANT FROM THE WELLS FARGO HOUSING FOUNDATION FROM THE WELLS FARGO FOUNDATION.
$7.5 MILLION FROM THE WELLS FARGO FOUNDATION AS PART OF WELLS FARGO'S WEALTH OPPORTUNITIES RESTORED THROUGH HOME OWNERSHIP OR THEIR WORTH INITIATIVE, OTIS RALEIGH AS WELLS FARGO'S NEW HEAD OF SOCIAL IMPACT, AND WE'LL SHARE MORE ABOUT THIS INITIATIVE SHORTLY.
WORKING TOGETHER OVER THE NEXT FOUR YEARS, THE COLLABORATIVE PLANS TO TAP THE GRANT TO IMPLEMENT A VARIETY OF STRATEGIES, INCLUDING A COMPREHENSIVE OUTREACH AND EDUCATION CAMPAIGN, PROVIDING MORE OPTIONS FOR FLEXIBLE, AFFORDABLE MORTGAGE PRODUCTS, REDUCING CONSTRUCTION COST, AND EXPANDING THE SUPPLY OF AFFORDABLE HOUSING AND AVAILABLE HOUSING.
CONTINUING POLICY EFFORTS TO ADDRESS SYSTEMIC BARRIERS IMPACTING HOME OWNERSHIP, WHILE ALSO ADDRESSING BARRIERS, PRESERVING HOME OWNERSHIP.
COLLABORATIVE MEMBERS WILL GO INTO MORE DETAIL ABOUT SOME OF THESE STRATEGIES AND THE SPECIFIC AND RELATED ACTIONS IN THE PANEL DISCUSSION THAT'S GONNA FOLLOW THIS PRESS CONFERENCE DIRECTLY AFTERWARDS.
NOW, I WOULD LIKE TO INTRODUCE MS. LORENA GARCIA TO SHARE HER STORY OF HOME OWNERSHIP.
MS. GARCIA AND HER HUSBAND WORKED WITH ONE OF OUR COLLABORATIVE PARTNERS, HANNO CENTER FOR COMMUNITY CONCERNS THROUGH THEIR HOUSING COUNSELING PROGRAM TO CLOSE ON THEIR HOME THIS JANUARY.
PLEASE HELP ME WELCOME MS. LORENNA GARCIA TO THE STAGE.
THANK YOU, MS. LAURA AND I RECENTLY PURCHASED A HOME IN JANUARY OF 2022, WHICH IS TWO YEARS AFTER THE PANDEMIC.
I, I BELIEVE THAT'S A HINT THAT IT WAS GONNA BE A STRUGGLE.
UM, I WAS FACED WITH MANY CHALLENGES.
HOWEVER, FINDING A HOME FOR IN A NEIGHBORHOOD WHERE MY TWO DAUGHTERS, ANDY AND ADRIANA COULD FEEL SAFE, BE ABLE TO HAVE OUTDOOR ACTIVITIES IN A NEIGHBORHOOD THAT HAD A PART THAT WAS FUNCTIONAL, AND BE ABLE TO ATTEND TO BETTER SCHOOLS, MOTIVATED MY HUSBAND AND I TO PUSH THROUGH EVERY OBSTACLE THAT WE WERE FACED.
WELL, ONE OF THEM WAS THAT IN OUR EXPERIENCE, THE MARKET HAS INCREASED TWICE ITS VALUE, MAKING IT FOR THE AVERAGE FAMILY, VERY DIFFICULT, MAKING IT FOR A LENDER TO BE VERY SKEPTICAL ABOUT, UM, LOANING MONEY TO, UM, HISPANIC, UM, OR JUST ANYBODY, YOU KNOW, JUST AVERAGE COMMUNITIES, THE POSSIBILITY OF SUCH A HUGE LOAN.
AS A HOMEOWNER, I WOULD LIKE EVERYONE
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THAT HAS THE SAME DREAM THAT MY HUSBAND AND I SHARED TO NOT BE DISCOURAGED.THE NUMBER ONE STEP, IF YOU'RE READY TO EMBARK IN THIS PRO PROCESS IS TO EDUCATE YOURSELF.
WELL, THE FIRST PEOPLE THAT I REACHED OUT TO, WHICH WAS THE BEST OPTION THAT I MADE, WAS I REACHED OUT TO THE TEJANO CENTER.
THERE YOU WILL RECEIVE THE GUIDANCE AND THE TOOLS NECESSARY TO GET YOU TO BE A MORTGAGE READY.
THE LADIES OVER THERE MADE SURE THAT WE ESTABLISHED A BUDGET, THEY MADE SURE THAT WE KNEW HOW TO MANAGE OUR, UM, SAVINGS AND HOW TO MAKE IT POSSIBLE.
PARTNERING WITH GREAT SUPPORT THAT GUIDES AND PROVIDES, UM, HELP NAVIGATING THROUGH THE PROCESSES, WHAT GOT MY FAMILY AND I INTO OUR DREAM HOME.
I WANNA GO AHEAD AND CONGRATULATE MS. LAURA AND EVERY PARTNERSHIP THAT'S HERE THAT'S MAKING IT POSSIBLE FOR FAMILIES LIKE MYSELF BECOME HOMEOWNERS.
THANK YOU MS. GARCIA, FOR THAT STORY.
AND AT STORIES LIKE THAT THAT CALLED US TOGETHER AS A COLLABORATIVE.
WE APPRECIATE YOU BEING HERE TODAY TO HIGHLIGHT AND SHARE THAT WITH US.
EXCUSE ME, IT IS STORIES, AS I SAID, THAT MOTIVATED THE HARRIS COUNTY HOME OWNERSHIP COLLABORATIVE TO CONVENE AND APPLY FOR THIS GRANT TO MAKE A REAL IMPACT IN CLOSING RACIAL GAPS IN HOME OWNERSHIP.
NEXT, I WANNA INTRODUCE MR. OTIS RALEIGH, THE HEAD OF SOCIAL IMPACT AT WELLS FARGO AND PRESIDENT OF THE WELLS FARGO FOUNDATION.
AT WELLS FARGO, OTIS GUIDE GUIDES THE STRATEGIC STRATEGIC VISION BEHIND THE COMPANY'S SOCIAL IMPACT STRATEGIES WITH AN EMPHASIS ON HOUSING AFFORDABILITY, SMALL BUSINESS GROWTH, FINANCIAL HEALTH, AND LOW CARBON FUTURE.
PRIOR TO JOINING WELLS FARGO, OTIS WAS THE SENIOR VICE PRESIDENT OF THE US EQUITY AND ECONOMIC OPPORTUNITY INITIATIVE AT THE ROCKEFELLER FOUNDATION, DIRECTING ALL US WORK FOCUSED ON ENHANCING THE ABILITY OF EVERY WORKING PERSON TO MEET THE BASIC FINANCIAL NEEDS OF THEIR FAMILY AND HAVE A PATH TO A BETTER FUTURE.
HE ALSO SERVED PREVIOUSLY AS THE NORTH AMERICAN MANAGING DIRECTOR FOR THE FOUNDATION'S 100 RESILIENT CITIES INITIATIVE.
NOW, I WON'T READ ALL OF HIS ACCOLADES, BUT IT IS VERY EVIDENT THAT THROUGH THE MANY LEADERSHIP POSITIONS HE HAS HELD, HE IS VERY PASSIONATE ABOUT THIS SPACE.
AND WE HEAR THAT HOUSTON IS ONE OF YOUR FIRST VISITS INTO THE MARKETS, UM, IN YOUR NEW ROLE.
AND WE CAN'T TELL YOU HOW HONORED WE ARE TO HAVE YOU HERE TODAY TO TALK TO US ABOUT THIS IMPORTANT FEAT.
UM, SO PLEASE HELP ME WELCOME AND GIVE A BIG HOUSTON WELCOME TO MR. OTIS ROWLEY.
UM, THANK YOU SO MUCH LAURA AND, UM, WELLS FARGO ALUM.
UM, WELLS FARGO'S LOSS IS DEFINITELY LISTS GAINED.
SO, UM, THANK YOU SO MUCH FOR VERY KIND INTRODUCTION.
UM, I HAVE BEEN IN THIS NEW ROLE NOW, UH, FOR ONE MONTH.
UM, AND, UM, WELLS FARGO HAS 250,000 EMPLOYEES.
WE ARE NATIONAL, INTERNATIONAL, BUT MOSTLY, UM, I, SO I HAVE STAFF ALL OVER, UH, THE COUNTRY AND I AM REALLY EXCITED ABOUT, THIS IS NOT ONE OF THE FIRST, THIS IS THE FIRST, UH, OPPORTUNITY THAT I HAVE TO, TO SPEAK, UM, TO OUR PARTNERS AND TO OUR GRANTEES OUTSIDE OF WASHINGTON DC HEADQUARTERS.
AND SO I'M EXCITED TO BE IN HOUSTON.
UH, THANK YOU FOR THE KIND, UH, KIND GREETINGS.
UM, I I ALSO WANT TO THANK, UH, THE MAYOR AND THE CONGRESSWOMAN, UH, FOR, FOR JOINING US.
I WANT TO THANK THE CHANCELLOR FOR HOSTING US HERE.
UM, THIS IS REALLY EXCITING FOR US TO BE ABLE TO BE IN THE COMMUNITY TO TALK ABOUT WHAT WE'RE DOING TODAY.
SO, WELLS FARGO'S ROOTS IN, IN HOUSTON ARE DEEP.
UM, THIS, THIS NEW $7.5 MILLION COMMITMENT THAT WE'RE MAKING HERE TODAY BUILDS ON ONGOING WORK.
UH, WELLS FARGO IS COMMITTED TO THIS COMMUNITY, COMMITTED TO THE CITY COMMITTED, COMMITTED TO THE STATE.
UM, AND SO THIS REALLY HELPS US TO BUILD OFF OF THE EQUITY AND ECONOMIC DEVELOPMENT AND OPPORTUNITY WORK THAT WE HAVE DONE AND THAT WE WILL CONTINUE TO DO IN, IN THE GREAT CITY OF, OF HOUSTON.
AND THE PART OF THE REASON WHY I JOINED WELLS FARGO, UM, TO LEAD THE FOUNDATION AND OUR SOCIAL IMPACT WORK WAS THAT I SAW THE POWER OF WELLS FARGO'S LONG-TERM COMMITMENT TO CHANGE, UH, FOR THE BETTER.
IT'S EXCITING TO BE PART OF A CATALYTIC CHANGE, UM, AND TO BE PART OF A, A PARTNERSHIP.
AND AT THE END OF THE DAY, WHILE I'M REALLY EXCITED ABOUT COMING AND BRINGING THE CHECK, I KNOW THAT THE FOLKS IN THIS ROOM, UH, DO THE WORK.
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OUR PARTNERS, UM, ARE ARE DOING THE HARD WORK, UH, TO REALLY BUILD US, TO TAKE US FROM GOOD, GOOD TO GREAT.EARLIER THIS YEAR, OUR CEO, UH, CHARLIE SCHARF WAS HERE IN HOUSTON TO SHARE NEWS OF A $20 MILLION OPEN FOR BUSINESS FUND GRANT FOR THE HOUSTON FUND FOR SOCIAL JUSTICE AND ECONOMIC EQUITY.
THE FUND IS ALREADY MAKING TREMENDOUS STRIDES AND IT'S CREATING MORE ACCESS TO CAPITAL FOR ENTREPRENEURS OF, OF COLOR, AND IMPORTANTLY, AND ENABLING THEM TO OWN, UM, OR, OR, AND, AND UPGRADE THEIR BUSINESSES.
IN ADDITION, WELLS FARGO'S NEIGHBORHOOD LIFT PROGRAM RECENTLY CAME BACK TO HOUSTON, UH, FOR THE THIRD TIME, UM, PROVIDING $5 MILLION IN DOWN PAYMENT ASSISTANCE GRANTS, HOME BUYER COUNSELING, AND OTHER RESOURCES TO BOOST HOME OWNERSHIP.
UM, SO WE'RE LOOKING AT ECONOMIC DEVELOPMENT, ECONOMIC ADVANCEMENT HOLISTICALLY.
I WANT TO BE CLEAR, THIS IS NOT JUST COMING WITH A PRETTY CHECK.
OUR BUSINESS, OUR LINES OF BUSINESS ARE COMMITTED, UH, TO, TO HOUSTON AND, AND TO TO TEXAS.
WE KNOW THAT CLOSING RACIAL GAPS IN HOME OWNERSHIP WILL TAKE VERY DELIBERATE INTERVENTIONS FROM THE PUBLIC AND PRIVATE SECTOR BECAUSE WE KNOW VERY DELIBERATE INTERVENTIONS HELP TO CREATE THE BARRIERS THAT EXIST.
AND SO WE HAVE TO BE AS INTENTIONAL TO, TO GET US TO A PLACE OF, OF EQUITY.
UM, WE KNOW THAT WE UNDERSTAND THAT.
AND AS PART OF WHY WE HERE AND WHY WE ARE HERE AND WHY WE ARE COMMITTED, WE KNOW THAT HARD WORK WILL BE WORTH IT.
UM, AND IF MORE PEOPLE OF COLOR CAN BUY THEIR OWN HOMES AND BUILD WEALTH, IT WILL HAVE POSITIVE RIPPLE EFFECTS THAT WILL BENEFIT COMMUNITIES.
HARRIS COUNTY, THE LOCAL ECONOMY, AND THE ENTIRE COUNTRY LONG INTO THE FUTURE.
THE INVESTMENT THAT WE'RE MAKING TODAY THROUGH WORTH, WHICH STANDS, UH, FOR WEALTH OPPORTUNITIES RESTORED THROUGH HOME OWNERSHIP, IS PART OF WELLS FARGO'S NEW $60 MILLION COMMITMENT, NATIONAL EFFORT, WHICH IS AIMED TO CREATE 40,000, UM, NEW HOMEOWNERS OF, OF COLOR THROUGHOUT THE US.
I AM SO PROUD THAT HOUSTON IS THE, IS MY FIRST STOP, UH, ON THIS WORLD TOUR.
I'M GOING TO BE LIVING ON A PLANE, UH, FOR THE NEXT TWO MONTHS.
UM, BUT I'M, I'M PROUD THAT HOUSTON IS THE FIRST STOP AND IT'S SO GOOD TO BE, TO BE BACK HERE.
UM, AS I LEARNED MORE ABOUT WORTH AND ABOUT THE, SOME OF THE THINGS THAT THE TALENTED FOLK, UM, AT THE, AT THE FOUNDATION THAT THE BANK ARE DOING TO REALLY COMMIT, UH, TO, TO HOUSTON'S PROGRESS, I I KNEW THAT THIS WAS THE, THE RIGHT STOP TO BE THE FIRST ONE.
UM, WE CHOSE HOUSTON BECAUSE OF THE LEADERSHIP THAT'S HERE TODAY.
UM, AND, AND YOU HAVE THE RIGHT LEADERS AT THE TABLE, BOTH IN TERMS OF COMMUNITY LEADERS, THE ELECTED LEADERS.
UM, IT IS, IT IS, UH, UH, JUST A SEA, A CORNUCOPIA OF POSITIVE FOLKS THAT ARE DOING THE RIGHT THING.
UH, AND, UM, BUT IT IS MY HONOR TO INTRODUCE, UM, A MAN, UH, WHO SIX AND A HALF YEARS AGO, UH, WHEN I, UH, CAME TO HOUSTON WEARING A, A DIFFERENT HAT, UM, SET ME DOWN IN HIS OFFICE, UH, AND SAID, SO WHAT DO YOU KNOW ABOUT HOUSTON? I SAID, YOU KNOW, I, I'M, I'M A NERD.
SO I HAD READ UP AND I KNEW EVERY, I THOUGHT I KNEW EVERYTHING HE SAID.
AND I SAID, WELL, IT'S ALRIGHT.
I, I KNOW THIS COMMUNITY WELL, I'VE, I'VE DONE MY RESEARCH.
AND HE LOOKED AT ME IN THE WAY THAT THE MAYOR CAN ONLY LOOK AT YOU, UM, AND SAID, THAT'S CUTE,
AND, UH, AND THEN, THEN BEGAN TO SCHOOL ME, UH, AND IN THE RIGHT WAY.
AND SO I FEEL LIKE THE, THE MONEY THAT HAS BEEN INVESTED HERE, THE TIME THAT HAS BEEN INVESTED HERE IN MANY WAYS WAS, UH, WAS ALSO SHAPED BY THE LEADERSHIP THAT, UM, AND THE LESSONS THAT I LEARNED FROM, FROM MAYOR TURNER.
SO IT IS, IT IS MY HONOR TO, IN, TO INTRODUCE ALL THE, YOU ALL KNOW HIM ALREADY, UH, MAYOR TURNER.
LET ME, LET ME START OFF BY, UH, WHICH ONE IS THIS AGAIN? LET ME START OFF BY CERTAINLY, UH, THANKING OTIS FOR HIS VERY GRACIOUS COMMENTS.
LAURA, IT'S ALWAYS GOOD TO WORK WITH LAUREN.
WE'VE WORKED, I'VE WORKED WITH HER WHEN SHE WAS AT WELLS FARGO AND NOW HERE.
SO LOOK FORWARD TO, UH, THE COLLABORATION, UH, TO THE NEW HOMEOWNER, TO MS. GARCIA, CONGRATULATIONS TO YOU AND YOUR HUSBAND, AND QUITE FRANKLY, THAT IS WHAT THIS IS ALL ABOUT.
SO CONGRATULATIONS TO YOU AND, AND, UH, AND THEN OF COURSE, UH, I'M SAVING ONE FOR LAST, UH, TO TOM AND THE ENTIRE TEAM, UH, RC BACK THERE IN THE BACK, UH, SCOTT, ALL OF THE ONES THAT AFFILIATED WITH WELLS FARGO.
LEMME SAY GOOD AFTERNOON TO YOU.
AND THEN TO LA GRITA, SYLVIA GARCIA, UH, THE POWER, UH, THE ONE WHO IS JUST DOING AN EXCEPTIONAL JOB IN REPRESENTING NOT JUST HER DISTRICT, BUT I WILL TELL YOU THE ENTIRE CITY OF HOUSTON.
AND SO, IN ADDITION TO WHAT WE ARE CELEBRATING, UH, TODAY,
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I WANT TO THANK HER FOR THE, UH, AMERICAN RESCUE DOLLARS, FOR THE BIPARTISAN INFRASTRUCTURE DOLLARS.ALL OF THOSE DOLLARS ARE BEING, ARE BEING USED AND ARE TRANSFORMATIONAL FOR OUR CITIES.
AND SO PLEASE GIVE IT UP TO LOCK.
IN FACT, IT WAS UNDER HIS LEADERSHIP, UH, THAT THE ROCKEFELLER FOUNDATION HAS BEEN VERY GENEROUS WITH THE CITY OF HOUSTON.
I WANT TO THANK HIM FOR THAT WORK WITH HIM WITH RESILIENT CITIES.
UH, AND NOW AS WELLS FARGO BEING PRESIDENT OF THE FOUNDATION, UH, LOOK FORWARD TO WORKING WITH THEM.
AND THEN, UH, THERE ARE EIGHT GRANTS OF THIS AMOUNT THAT ARE BEING GIVEN.
UH, WELLS FARGO CHOSE HOUSTON TO BE THEIR FIRST STOP, UH, IN MAKING THAT ANNOUNCEMENT.
SO PLEASE GIVE IT UP TO OTIS AND TO WELLS FARGO.
LOOK, LET ME, LET ME COMMEND WELLS FARGO, UM, FOUNDATION FOR THEIR COMMITMENT TO EMPOWERING COMMUNITIES OF COLOR, UH, THROUGH THIS GRANT.
AND TRUSTEE, UH, TAMIR, I CERTAINLY DON'T WANNA OVERLOOK YOU.
THANK YOU SO VERY, VERY MUCH FOR YOUR LEADERSHIP, WHAT YOU'RE DOING AT THE TOWN AND CENTER, UH, BECAUSE I'VE BEEN WITH YOU WHEN THE CENTER HAS HELPED TO REVAMP, UH, PEOPLE'S HOMES AND THE JOY THAT IT HAS BROUGHT TO THEM.
SO THANK YOU FOR YOUR EXCEPTIONAL LEADERSHIP.
TODAY'S HOUSTON IS JOINING SEVEN, UH, URBAN AREAS AS WELL AS RURAL AND NATIVE COMMUNITIES ACROSS THE COUNTRY IN RECEIVING $7.5 MILLION GRANT FROM WELLS FARGO FOUNDATION.
OF COURSE, AS OTIS HAS SAID, AND LAURA HAS SAID, THIS IS NOT WELLS FARGO FIRST INVESTMENT IN THE CITY OF HOUSTON.
THIS PAST NOVEMBER, THEIR NEIGHBORHOOD LIFT PROGRAM WAS MADE AVAILABLE FOR THE THIRD TIME IN HOUSTON, PROVIDING $5 MILLION IN DOWN PAYMENT ASSISTANCE, GRANTS, HOME BUYER COUNSELING AND OTHER RESOURCES.
AND I WAS THERE WHEN THAT ANNOUNCEMENT WAS MADE.
AND THEN IN FEBRUARY, I JOINED WELLS FARGO TO ANNOUNCE THE $20 MILLION DONATION MADE BY WELLS FARGO TO THE HOUSTON FUND FOR SOCIAL JUSTICE AND ECONOMIC EQUITY.
AND I WANT TO THANK THEM, UH, FOR THEIR CONTINUOUS COMMITMENT, UH, TO THE CITY OF HOUSTON.
I DON'T WANNA SOUND LIKE SOMEONE WHO'S UNGRATEFUL.
WELL, WHEN PEOPLE GIVE AND THEN YOU SAY, OKAY, WHAT'S NEXT? WHAT'S NEXT? WHAT'S NEXT? BUT WHAT'S NEXT?
IF IT'S, IF IT'S IF, IF IT IS WORKING, KEEP ROLLING.
UM, AND AS WE SAID, MY CHURCH, IF YOU CASH YOUR BREAD INTO THE WATER, IT WILL COME RIGHT BACK TO YOU.
SO WHATEVER INVESTMENT, AND THESE ARE INVESTMENTS, THESE ARE GRANTS, AND WHEN YOU MAKE THEM, UH, THEY'RE LIKE SEEDS, THEY WILL, THEY WILL, THEY WILL GROW.
AND I BELIEVE, AND ONLY WILL THE CITY OF HOUSTON BENEFIT AND THE PEOPLE WHO ARE THE RECIPIENTS, UH, BUT THE FINANCIAL INSTITUTIONS LIKE WELLS FARGO WILL BENEFIT AS WELL.
AND I MUST ALSO RECOGNIZE LIZ HOUSTON, WHICH HAS A STRONG HISTORY OF CONNECTING PEOPLE WITH THE RESOURCES THEY NEED TO SUCCEED.
AND I LOOK FORWARD TO WHAT THIS COLLABORATION WILL DO FOR THIS CITY.
THE AMERICAN DREAM IS THE OPPORTUNITY FOR PROSPERITY AND SUCCESS THAT'S ACHIEVED THROUGH HARD WORK.
SOME SEE IT AS HAVING HIGHER EDUCATION, A GOOD JOB, A FAMILY, AND A BEAUTIFUL HOME.
SADLY, HOME OWNERSHIP OPPORTUNITIES HAVING BEEN MADE AVAILABLE TO EVERYONE EQUALLY, ESPECIALLY TO PEOPLE OF COLOR.
SO WHEN YOU LOOK AROUND, WHEN YOU LOOK AT THE NUMBER OF FOLK OR THE PERCENTAGE OF FOLK WHO ARE OWNING HOMES FOR PEOPLE OF COLOR, HISPANIC AND AFRICAN AMERICANS AND OTHERS, THAT PERCENTAGE IS STEADILY GOING DOWN.
AND IN ORDER TO REVERSE IT, WE HAVE TO DEAL WITH THE ISSUES THAT KEEP HOME OWNERSHIP FROM NOT BEING MADE AVAILABLE EITHER THROUGH DOWN PAYMENT ASSISTANCE AND CLOSING COSTS.
ALL OF THOSE OTHER ELEMENTS THAT MAKE IT VERY, VERY DIFFICULT.
WHEN I ENTERED OFFICE, I COMMITTED TO INCREASING THE AFFORDABLE HOME INVENTORY IN HOUSTON.
AND THROUGH MY TIME AS MAYOR, THE CITY WILL HAVE CONTRIBUTED MORE THAN $100 MILLION TOWARDS ASSISTING HOUSTONIANS.
FIND PLACE TO CALL, UH, CALL OUR HOME, THE DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT UNDER THE LEADERSHIP OF KEITH BYNUM, WHO IS HERE, DIRECTOR BYNUM, UH, THANK YOU FOR WHAT YOU ARE DOING IS TASKED WITH CREATING COMMUNITIES, INCLUDING SINGLE FAMILY HOMES AROUND THE CITY.
I SAID TO CHIEF TO TO DIRECTOR BYNUM THAT STARTING BACK A YEAR AGO, GOING THROUGH DECEMBER 31ST OF NEXT YEAR, WHICH WILL BE MY LAST DAY IN OFFICE, THAT WE ARE COMMITTED TO BUILDING 3000 SINGLE FAMILY HOMES IN THE CITY OF
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HOUSTON.CURRENTLY, WE HAVE DEVELOPMENTS AT STELLAR LINK CITYSCAPE NEAR NORTH SIDE, HARDY YARDS, OLD SPANISH TRAIL, SOUTH UNION CALHOUN ROAD, THIRD WARD ROBINS LANDING ACRES HOME AND OLD SPANISH TRAIL, SOUTH UNION MLK, WITH MORE TO TO BE ANNOUNCED EVEN STILL, THIS MEANS UP TO 1,253 AFFORDABLE HOMES FOR INCOME CERTIFIED HOUSTONIANS AND 601 MARKET RATE HOMES.
WE HAVE ANOTHER 900 AFFORDABLE HOMES WE ARE PROJECTING TO BUILD OUT.
AND SOME OF THESE WILL START PRE-SELLING BEFORE THE END OF THE CALENDAR YEAR.
BY PROVIDING FINANCIAL FINANCING TO DEVELOPERS ON THEIR ELIGIBLE PROJECTS, THE CITY CAN MAKE AFFORDABLE HOME OWNERSHIP POSSIBLE FOR HOUSTONIANS.
OUR COMMITMENT ALONG WITH THAT OF WELLS FARGO WILL GO A LONG WAY TO ENSURING MORE HOUSTONIANS HAVE ACCESS TO SAFE, AFFORDABLE HOMES WHERE THEY CAN THRIVE.
HOME OWNERSHIP IS ONE OF THE FIRST STEPS TOWARDS BUILDING GENERATIONAL WEALTH AND ONE THAT HAS BEEN HISTORICALLY AND SYSTEMATICALLY LIMITED FOR BLACK AND BROWN FAMILIES.
HOME OWNERSHIP CREATES STABILITY FOR FAMILIES, AND IT CREATES STABILITY FOR COMMUNITIES.
UH, THIS IS A GOOD DAY, BUT TO JUST TELL YOU JUST HOW VALUABLE OWNING A HOME MEANS.
UH, WHEN MY DAD PURCHASED A HOME FOR OUR FAMILY BACK IN 1954, UH, THAT WAS A PROUD DAY FOR MY, FOR MY PARENTS.
AND AFTER MY DAD DIED AND MY MOM BECAME THE CEO OF THE FAMILY RAISING NINE KIDS, WHEN MY MOM GOT ILL, ONE OF THE THINGS THAT SHE MADE HER CHILDREN COMMIT TO, AND SINCE I WAS THE LAWYER IN THE FAMILY, WHAT SHE SAID TO ME,
UH, THAT THIS HOME WILL REMAIN AS A PART OF THIS FAMILY.
FOR OTHERS, YOU MAY NOT NEED IT, BUT FOR OTHERS WHO MAY NEED IT, UH, IN THIS, IN THIS FAMILY, THIS IS OUR HOME AND THIS IS WHAT WE OWN.
AND THAT IS A COMMITMENT THAT I WANT YOU TO MAKE.
IT MAKES A DIFFERENCE, UH, WHEN YOU ARE ABLE TO OWN YOUR HOME AND CHILDREN CAN GROW UP AND BE A, AND BE A PART OF IT.
AND FOR BLACK AND BROWN COMMUNITIES, COMMUNITIES OF COLOR, PEOPLE OF COLOR, THAT IS SOMETHING THAT HAS NOT BEEN AN EASY HURDLE TO OVERLOOK.
AND SO WE NEED TO REVERSE THAT, AND WE NEED TO CREATE HOME OWNERSHIP.
AND SO FOR WELLS FARGO, LET ME THANK YOU FOR YOUR COMMITMENT.
LET ME THANK YOU FOR WHAT YOU ARE DOING.
BUT I WOULD BE REMISS TO SAY THAT THERE IS STILL NOT A TREMENDOUS NEED THAT STILL IS OUT THERE.
AND SO WE LOOK FORWARD TO CON CONTINUING TO COLLABORATE WITH YOU ON SO MANY LEVELS.
NOW, I WANT TO CALL TO THE PODIUM ONE OF OUR CHAMPIONS AND OUR UNDERSCORE CHAMPIONS FOR PEOPLE OF COLOR AND HOME OWNERSHIP.
IT JUST SO HAPPENS TO BE HER BIRTHDAY.
UM, AND WHAT A TREMENDOUS GIFT TO GIVE $7.5 MILLION UNDER HER LEADERSHIP FOR HOME OWNERSHIP.
SHE HAS CONTINUOUSLY FIGHT, UH, UH, FOUGHT FOR THE CITY OF HOUSTON, FIGHTING FOR THE CITY OF HOUSTON NOW, AND HAS BEEN OUT THERE ON THE FRONT LINE ON SO MANY DIFFERENT FRONTS.
AND THERE IS NOT ONE SINGLE TIME THAT WE NEEDED HER HELP, THAT SHE HAS TURNED THE CITY DOWN.
AND I WANT TO THANK HER FOR THAT AND APPRECIATE HER FOR HER SERVICE AND THE FEDERAL DOLLARS THAT HAVE COME TO THIS CITY THAT ARE MAKING A HUGE DIFFERENCE.
PLEASE WELCOME NOW TO THE PODIUM, NONE OTHER THAN THE CONGRESSWOMAN SVIA GARCIA LAST TIME.
AND, UM, IT WAS SUCH A GREAT DELIGHT TO HEAR YOU TALK ABOUT YOUR FATHER BUYING YOUR HOME.
UH, BECAUSE ANYTIME SOMEONE BUYS A HOME, IT IS NOT ONLY AN ACHIEVEMENT, BUT IT'S A SENSE OF PRIDE IN MY COMMUNITY.
HAVE YOU HAD A CHANCE TO SAY THAT YET? YES, YOU HAVE.
NOW, WE'RE YOU GUYS HERE TODAY
AND IT'S A PHRASE THAT SYMBOLIZES A WELCOMING SPIRIT, A NEIGHBORLY JE AND A SENSE OF PRIDE
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THAT YOU NOW OWN YOUR OWN HOME.I CAN SEE THE SENSE OF PRIDE IN YOU, MS. GARCIA.
HOME OWNERSHIP IS A DREAM AND A KEY FOR FAMILIES IN ATTAINING THAT AMERICAN DREAM THAT WE ALL READ ABOUT.
THERE'S SOME DEBATE, DEBATE GOING ON IN OUR COUNTRY AS TO ABOUT WHETHER OR NOT THE AMERICAN DREAM LIVES.
THAT'S WHAT WE ALL GREW UP WITH, KNOWING THAT IT WAS THERE, MAKING SURE THAT WE COULD REACH IT, THAT WE WOULD ALL HAVE A FAIR SHOT.
WELL, OWNING A HOME IS A SENSE OF GETTING THERE.
THE MAIN SOURCE OF HOUSEHOLD AND GENERATIONAL WEALTH FOR FAMILIES AND THEIR CHILDREN.
IT'S A GATHERING PLACE FOR FAMILY AND FRIENDS.
IT'S A PLACE TO SIT AROUND THE KITCHEN TABLE.
AND THIS IS HOUSTON, AND IT'S A PLACE TO BE IN THE BACKYARD.
AND TALKING ABOUT OUR HOUSTON ASTROS,
BUT THEY LIVE IN UNDERSERVED COMMUNITIES.
THEY LIVE IN AREAS WHERE THERE IS NO ACCESS TO FINANCE HELP.
IT'S NOT UNDERSTANDING THE BUYING PROCESS.
IT'S ABOUT A LOT OF THINGS, INCLUDING YOUR CREDIT HISTORY THAT MAY NEGATIVELY IMPACT YOU.
THAT'S WHY ON THE FEDERAL LEVEL, I'VE INTRODUCED A BILL CALLED THE IMPROVING LANGUAGE ACCESS AND MORTGAGE MORTGAGING ACT.
THIS BILL WILL PROVIDE MORE LANGUAGE RESOURCES TO MORTGAGE LENDERS, TO THE LENDERS SO THEY CAN BETTER SERVE BORROWERS.
YOUR PRIMARY LANGUAGE IS NOT ENGLISH.
IT DOES US NO GOOD IF THE MORTGAGE SERVICE PROVIDER SENDS INFORMATION ABOUT HOW TO MAINTAIN THE MORTGAGE, HOW TO PAY ON TIME, WHAT YOUR ESCROW IS, IF IT'S ALL IN ENGLISH, BUT YOU SPEAK SPANISH OR YOU SPEAK VIETNAMESE OR SOME OTHER LANGUAGE.
SO THIS BILL I'M PROUD TO REPORT HAS PASSED OUT OF THE HOUSE AND AWAIT SENATE ACTION SOMEDAY, HOPEFULLY IT WILL BE A REALITY.
BUT GRANTS AND INITIATIVES LIKE WELLS FARGO, OPPORTUNITIES RESTORED THROUGH WHOM OWNERSHIP HELP US GET THERE.
EVEN THOUGH THE BILL HAS PASSED THE HOUSE AND NOT THE SENATE, THE GROUPS INVOLVED TODAY CAN WORK WITH OUTREACH AND INFORMATION TO ALLEVIATE SOME OF THE BARRIERS THAT MY BILL SEEKS TO ADDRESS.
THE HARRIS COUNTY HILL SHIP COLLABORATIVE AIMS TO ADD A WHOPPING $5,000, NEW 5,000 NEW HOMEOWNERS OF COLOR BY 2025.
AND AS THE MAYOR SAID, WE'RE GETTING THERE, BUT THERE'S STILL SO MANY OTHERS TO GET ACROSS THE FINISH LINE.
TODAY'S GIFT FROM WELLS FARGO WILL HELP OUR COUNTY ACHIEVE THIS WITH A $7.5 MILLION.
AND WELLS FARGO IS GOOD AT FIRST TIME PAYMENT ASSISTANCE.
SO WE WILL CONSIDER THIS MAYOR A FIRST TIME ASSISTANCE
AS I JOKINGLY SAID TO THE MAYOR AT ANOTHER EVENT RECENTLY, I WAS CITY CONTROLLER AND I WATCHED AND KEPT TRACK, TRACK OF THE DOLLARS HERE IN HOUSTON.
NOW MY JOB IS TO BRING THEM HOME, TO BRING THE DOLLARS HOME.
THIS ONE IS A GOOD ONE BECAUSE IT HELPS SO MANY PEOPLE WHO ARE WAITING TO ACHIEVE THAT AMERICAN AMERICAN DREAM AND ARE WAITING TO SAY, JUSTICE.
MS. GARCIA CAN NOW SAY ME, CASA CASA.
THANK YOU CONGRESSWOMAN, FOR THOSE INCREDIBLE REMARKS.
AND IF I KNEW HOW TO SING OR RATHER IF I KNEW HOW TO SING WELL, I WOULD LEAD US IN A ROUND OF HAPPY BIRTHDAY TO YOU.
ALL OF WHAT OUR SPEAKERS, ALL THESE COMMENTS WERE EXACTLY WHY WE ARE HERE TODAY.
IT'S EXCITING AND A LITTLE DAUNTING BECAUSE THERE IS STILL A LOT OF WORK TO DO HERE, AND WE NEED ALL OF YOU TO HELP US WITH THAT.
SO WE ARE TRULY EXCITED ABOUT THE $7.5 MILLION DONATION FROM WELLS FARGO AND THE, UM, UPCOMING WORK OF THE COLLABORATIVE TO EXPAND HOMEOWNER OPPORTUNITIES TO BLACKS, HISPANIC AND OTHER UNDERSERVED INDIVIDUALS
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AND FAMILIES.WE GOT TO THIS POINT WITH THE SUPPORT OF MANY OF YOU IN THIS ROOM, THE CITY, THE COUNTY.
UM, WE, WE NEED YOU ALL AND WE WILL ASK YOU ALL TO BE PATIENT WITH YOU AS WE ROLL THIS OUT.
UM, BUT FOUR YEARS IS A REALLY QUICK PERIOD.
IT'S AROUND THE CORNER, BUT WE DO AIM TO MAKE THESE 5,000 NEW HOMEOWNERS, UM, FOR OUR CITY.
SO THIS NOW CONCLUDES OUR PRESS CONFERENCE AND WE WOULD, UM, APPRECIATE IT.
UM, IF YOU WOULD GIVE US SOME TIME FOR US TO DO A LITTLE PHOTO OP, THE, UM, IF YOU'RE REGISTERED FOR LUNCH AND TO STAY FOR THE PANEL AFTERWARDS, WHICH IS THE DEEPER DIVE IN DISCUSSION AROUND THESE STRATEGIES AND HOW WE WILL EXECUTE AND IMPLEMENT THEM.
GO AHEAD AND GRAB YOUR LUNCH, MAKE YOURSELF COMFORTABLE.
WE'RE GONNA STEP ASIDE FOR SOME PHOTOS, AND THEN WE WILL, UM, BE BACK FOR THE PANEL DISCUSSION AT 1130.
AND SO I'LL ASK THE LEADERS OF THE COLLABORATIVE, UM, ALL OF OUR SPEAKERS, UH, WELLS FARGO TEAM TO STEP INTO THIS ROOM OVER HERE SO THAT WE CAN GET SOME PHOTOS.
SO THANK YOU AGAIN, AND THANK YOU AGAIN.
WELLS FARGO FOR $7.5 MILLION DONATION TO OUR COMMUNITY.