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The HEART of San Mateo County

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					                                                The HEART of San Mateo County
                                                Opening Doors in Our Community
                                                The Housing Endowment and Regional Trust

                                                 SUMMER 2009 / VOLUME 3 / ISSUE 1




           New Homebuyer Assistance Program for San Mateo County
Now is the time to buy a starter home           How can you qualify?
if you can get a loan. In July, 2008            •	 Household	income	up	to	$150,000                         New Homebuyer Loans
HEART introduced “Opening Doors in Our          •	 Live	or	work	in	San	Mateo	County                              For San Mateo County
Community” homebuyer loan program for           •	 First-time	or	move-closer	buyer
people who live or work in San Mateo County.                                                                    “Opening Doors in Our Community”
                                                •	 Maximum	purchase	price	of	$521,250                   helps qualified, moderate-income families buy a home.
A lot has happened in the financial and real
estate markets in this past year. Average       •	 Minimum	downpayment	of	5%,
housing prices have dropped, yet access to         competitive with FHA loans
credit has tightened significantly.             •	 FICO	score	of	680

HEART and Meriwest Credit Union are             Apply online at
here to help, and have re-designed their        www.heartofsmc.org/open or call a
secure, reasonable homebuyer assistance         Meriwest Mortgage loan consultant at
program for today’s economy, to help            408-363-3451 for more information.
qualified, moderate-income families buy a
first home or move closer to work in San        Finally, HEART’s goal is to work with other
Mateo County.                                   existing city, school and employer programs
                                                to provide additional financing. Call us to               The Housing Endowment and Regional Trust

                                                                                                          For more details: www.heartofsmc.org/open to see if you qualify.
Our goal is still simple: To help you buy a     find out if your organization can qualify as a                 Or call a Meriwest loan consultant at 1-408-363-3451.
home with only 5% downpayment.                  community partner.


                                   New senior homes open in Daly City
“I feel as free and as happy as a bird,” says                                                          households. Rents are based on tenants
Griselda Muyat as she stops in front of the                                                            paying no more than 30% of the household’s
two-story bird cage that rises up through the                                                          income, with a rental subsidy through the
atrium of the new Hillcrest Senior Housing                                                             US Department of Housing and Urban
complex in Daly City. She is one of the 39                                                             Development Section 202 Program. Griselda,
lucky seniors who won a lottery from among                                                             for example, whose only source of income is
700 applicants for a new apartment at                                                                  Social Security, pays $227 month.
Hillcrest Gardens. “My daughter encouraged      Over 700 people applied for 39 new rental homes
me to be independent, because I stayed at       in Daly City. Griselda Muyat (left) has her own        Hillcrest is a prime example of the type of
                                                apartment for the first time in her life. Clara Chan
home alone with no car and was very lonely.     (right) has limited mobility but uses BART, SamTrans   development needed in San Mateo County.
Now I can see people and go anywhere.”          and the community van for all her needs.               Built on a small plot of unused land in the
                                                                                                       middle of the city, one block away from the
Developed and managed by American                                                                      Daly City BART station, near bus lines and
Baptist Homes of the West, on land                 A happy and dignified retirement is
                                                                                                       walking distance to stores, pharmacies and
previously owned by the City of Daly City,         everyone’s goal for our rapidly growing
                                                                                                       restaurants, it serves the needs of low-
Hillcrest Gardens offers one-bedroom               senior population                                   income seniors. The property boasts a library
apartments for very low-income elderly                                                                                                                  CONTINUED ON PAGE 3

    In this Issue
                                     • HEART invests $2 million      • Supervisor Rose           • Trestle Glen in Colma                        • HEART raises
                                       in two workforce housing        Jacobs Gibson new           accepting applications                            $22,000 at May lunch
                                       developments                    Board Chair                 in Fall 2009
HEART invests $2 million in two workforce housing projects                                                Workforce housing in
                                                                                                          South San Francisco
HEART made two $1-million funding                                                                         El Camino Family Housing, in the early
commitments in February 2009 to enable                                                                    stages of development, was jumpstarted by
the development of much-needed affordable                                                                 a major investment by the City of South San
homes for low-income families in the county.
                                                                                                          Francisco’s Redevelopment Agency. In an
One is a “shovel-ready” development in the
                                                                                                          effort to move the project forward, HEART is
City of San Mateo called Peninsula Station.
The second is a family apartment building in                                                              investing $1 million from its Genentech South
the City of South San Francisco in the very                                                               San Francisco Fund, which was capitalized by
early stages of development, known as El                                                                  a gift from Genentech, Inc. to benefit South
Camino Family Housing.                                                                                    San Francisco.

Both communities are being developed by                                                                   The development is also located on the
Mid-Peninsula Housing Coalition, a not-for-       Funders and supporters of Peninsula Station: (l to r)
                                                  Janet Stone, San Mateo County Dept. of Housing,         “Grand Boulevard” of El Camino Real,
profit affordable-home developer based
in Foster City. Since its founding in 1970,       Brian Perkins, Office of US Rep. Jackie Speiers,        adjacent to South San Francisco High
                                                  Yoomie Ahn, Mid-Pen. Housing, Chris Mohr,               School. The plans currently call for 106 rental
Mid-Pen has developed over 6,200 affordable       HEART, Jan Lindenthal, Mid-Pen. Housing, Margaret
homes for residents in eight northern             Schrand, Wells Fargo Bank and Brian Frankel, Union      apartments affordable to families with very
California counties.                              Bank.                                                   modest incomes.
     The two awards will result in the building of 174 new homes. That brings to 662 the
    number of homes that HEART has helped build, renovate, or purchase in the county.


Heart saves the day in San Mateo when state freezes bond payments
At a groundbreaking ceremony on May 14,           $1-million bridge loan which was approved               Goodyear Tire store, next to a Caltrain stop
HEART, the City of San Mateo and the County       and awarded in record time. The funds were              and across from Hillsdale Mall, it is close to
of San Mateo were thanked for making $3.5         part of HEART’s QuickStart Revolving Loan               transit, shops, and services.
million available as an emergency bridge          Fund, which was capitalized by CalHFA and
loan to the new, $34-million, 68-unit housing     Wells Fargo.                                            Work has already begun and crews have
development called Peninsula Station. The                                                                 excavated a large hole for the foundation
project almost came to a halt when the State      Peninsula Station is a great example of
                                                  transit-oriented development envisioned by              and underground parking. Expected to open
of California indefinitely suspended all bond
                                                  the Grand Boulevard Initiative, created to              in August 2010, the development will offer
payments, leaving a $4 million gap. If the
                                                  establish livable, walkable communities along           68 one-, two- and three-bedroom rental
project didn’t start by March 9, Peninsula
Station would have lost its deal with its lead    the El Camino Real. Located next to the                 apartments that are affordable to families who
tax credit investor.                              Borders Bookstore, on the site of the former            earn between $33,930 and $67,860 a year.

                                                     “This is only one of two projects of its kind in the state to move forward
Working with the city of San Mateo and the
                                                     in this economy,” said Jan Lindenthal, Mid-Peninsula Housing Coalition
County, HEART approved an emergency

       Opening Doors in Our Community                                               HEART Member Cities
       The HEART Campaign to Raise $3 Million in                                    • Town of Atherton                 • City of Millbrae
       Three Years to Create 600 New Homes                                          • City of Belmont                  • City of Pacifica
       Vision:   A County where housing is attainable to all.                       • City of Brisbane                 • Town of Portola Valley
       Mission: Raise funds from public and private sources to                      • City of Burlingame
                                                                                                                       • City of Redwood City
                meet critical housing needs in San Mateo County.                    • Town of Colma
                                                                                                                       • City of San Bruno
       Who:      Support from our community businesses                              • City of Daly City
                 and residents.                                                                                        • City of San Carlos
                                                                                    • City of East Palo Alto
       How:      Invest in rental and ownership homes. Leverage                                                        • City of San Mateo
                                                                                    • City of Foster City
                 funds 10:1. Create $30M total in new housing.
                                                                                    • City of Half Moon Bay            • City of South San Francisco
       Give to HEART. Invest in affordable housing                                  • Town of Hillsborough             • Town of Woodside
       for our community - San Mateo County
                                                                                    • City of Menlo Park               • County of San Mateo

2
New senior homes open in Daly City,                           CONTINUED FROM PAGE 1                              Supervisor Rose Jacobs Gibson
                                                                                                                 new Board Chair
and computer center, secure underground                                                                                              San Mateo County
parking, and accessible van for exclusive use                                                                                        4th District Supervisor
                                                              “All my life I have taken care of others,                              Rose Jacobs Gibson,
of the community and residents. Two of the
                                                              or lived with my children,” says Gloria                                one of the founding
units are accessible for the mobility impaired,
                                                              Muyat. “Now, for the first time in my life                             members of HEART,
and thirteen are accessible to the hearing and
                                                              I have my own apartment, and I have                                    was elected Board
sight impaired.
                                                                                                                                     Chair in February,
                                                              my life.
                                                                                                                                     2009, to replace former
Clara Chan, 81, especially appreciates the                                                                       San Mateo City Council member Carole
adapted facilities. A retired federal employee                                                                   Groom, who resigned from the board when
who worked in the gift shop at the Veterans                   HEART made a $510,000 loan, and                    she became the 2nd District Supervisor in
Hospital, she treasures the quiet and privacy                                                                    late 2008.
                                                              worked with the City of Daly City to help
of her own place, and, with limited walking                   ABHOW fill a funding gap and complete              Supervisor Jacobs Gibson, who represents
ability, relies on public transportation,
                                                              the project.                                       Redwood City, Menlo Park, East Palo Alto
community activities and the van to enjoy her
                                                                                                                 and unincorporated North Fair Oaks and
life. She points with pride to the special timer                                                                 Oak Knoll, is a tireless advocate for afford-
that turns off her stove, in case she forgets.                                                                   able homes and community building. HEART
“I’ve gained nearly ten pounds,” she says with                                                                   welcomes her leadership, and thanks Carole
a smile, “because I am so happy. Thank you.”                                                                     Groom for her six years of dedicated service.



                                                           Trestle Glen in Colma accepting applications in Fall 2009
                                                           Trestle Glen, a new development offering              You will receive confirmation and an
                                2008                       119 homes for working families, will begin            application by mail. Call 650-266-8205 for
                                Annual                     accepting applications in September/October
                                                                                                                 recorded information or visit
                                                           2009, with construction completion and
                                Report                     move-ins in early 2010.                               http://www.bridgehousing.com/TrestleGlen.
                                Now
                                                           Applications are not yet available. To be
                                Online                     placed on the interest list to receive one, send
                                                                                                                 Located on El Camino Real, near the Colma

                                Download a copy            a postcard with your name, address and                BART station, the site will also provide a

 of HEART’s 2008 Annual Report (July                       phone number to:                                      60-space childcare facility. HEART has
 2007-June 2008) on our website at www.                                                                          invested $1.76 million in long-term loans and
                                                           Trestle Glen
 heartofsmc.org/about, or call us and we                   P.O. Box 191550                                       $750,000 in short-term financing in the award-
 will send you a copy.                                     San Francisco, CA 94119                               winning, $46 million project.

  HEART Board of Directors
Community Leaders                     Bill Nack, Vice Chair                  Pedro Gonzalez                Jack Matthews                Randy Royce
                                      Executive Officer,                     City Council                  City Council                 City Council
Denise Aquila                                                                                              City of San Mateo
                                      San Mateo County Building              City of South San Francisco                                City of San Carlos
Re/Max Realty
                                      & Construction Trades Council          Richard Gordon                Daniel Quigg                 Sal Torres
Linda Asbury                                                                                               City Council
                                                                             Board of Supervisors                                       City Council
President/CEO, San Mateo Area         Larry Nibbi
                                                                             County of San Mateo           City of Millbrae             City of Daly City
Chamber of Commerce                   CEO, Nibbi Brothers Construction
Julie Baigent                                                                Diane Howard
                                      Paul Shepherd                                                                    Opening Doors in
Attorney at Law                                                              Vice Mayor
                                      Land Manager, Cargill Salt                                                       Our Community:
                                                                             City of Redwood City
John Conover
                                                                                                           A quarterly publication of HEART
President, Borel Private Bank         Public Officials                       Rose Jacobs Gibson, Chair
                                                                                                           Christopher Mohr, Executive Director
& Trust Company                                                              Board of Supervisors
                                      John Boyle                                                           Editor: Paula Stinson
Karyl Eldridge                                                               County of San Mateo
                                      City Council, City of Menlo Park                                     Photos: Paula Stinson, istockphoto.com
Peninsula Interfaith Action                                                  Tom Kasten                    Graphic Design: Josh Wright
Michele Jackson                       Larry Franzella                        City Council                  HEART is a public entity and donations are tax
Executive Director, Shelter Network   Mayor, City of San Bruno               Town of Hillsborough          deductible. Fed ID: 72-1589835

                                                                                                                                                                 3
                                                                                              HEART raises $22,000
                                                                                              at May lunch                                             Thank you to our sponsors:
                                                                                                                                                      The San Mateo County Association
                                                                                                   A capacity crowd of 170 people came                    of Realtors Foundation (SAMCAR)
                                                          :
                                                   usi0ng
                                                                                                    to lunch at the South San Francisco               PG&E

                                                 Ho 9                                                 Conference Center on May 13 to learn            Invaluable media support:
                            f o rc e n i t i e s i n 2
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                                                                                                                                                       Thank you to our co-hosts:
                                                                           San
                                                                   South                                             the challenge.

                                                                                                                                                      The San Mateo Area
.
                                                                                                                       Keynote speaker Stephen            Chamber of Commerce
                                                                                                                       Levy, Director of the Center   SAMCEDA
                                                                                                               for Continuing Study of California’s   The Redwood City-San Mateo County
                                                                                              Economy spoke about how the housing                         Chamber of Commerce
                                                                                              market collapse and foreclosure crisis has not          The Silicon Valley Leadership Group
                                                                                                                                                      The South San Francisco
                                                                                              solved the lack of affordable housing in San
                                                                                                                                                          Chamber of Commerce
                                                                                              Mateo County.




           The Housing Endowment and
           Regional Trust of San Mateo County
           139 Mitchell Avenue, Suite 108
           South San Francisco, CA 94080
           Phone: 650-872-4444
           Fax: 650-872-4411
           E-mail: info@heartofsmc.org


           Opening Doors in Our Community
           www.heartofsmc.org



             In this issue
                           New Homebuyer
                           Assistance Program for
                           San Mateo County


                           Hillcrest Gardens
                           senior housing opens in
                           Daly City

				
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