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| Representatives from NHS, Sandler + O’Neill , the Bank of New Orleans and Samuel J. Green Charter School kicked off the Teachers Homeworks program. |
November 7, 2007 — A New York City-based investment firm, Sandler O’Neill,
with the help of Bank of New Orleans,
is providing more than $250,000 in closing cost assistance to help teachers in New Orleans become homeowners.
The Teachers HomeWorks program will be offered through Neighborhood Housing Services of New Orleans. The program is designed to encourage new teachers to become more rooted in the community by helping them to own their own homes and off-set the rising cost of homeownership in the metropolitan area.
Each teacher may receive a maximum grant of $20,000 to be used towards the purchase of a home. All teachers will be encouraged to apply for a first mortgage loan at the Bank
of New Orleans.
“We are so very grateful that Sandler O’Neill recognizes the need in New Orleans for quality teachers. And NHS recognizes the value of these teachers becoming homeowners — value to their schools, their students, themselves, and the community at large. Teachers who apply for these grants will be guided by NHS and will participate in our homeownership services, including counseling and homebuyer training,” says Lauren Anderson, NHS chief executive officer.
“Sandler O’Neill is a firm that was incredibly and tragically impacted by the September 11 attacks. We recognize the particular empathy that Sandler O’Neill has toward those of us struggling with recovery here in New Orleans and are deeply appreciative that they chose to show their support to the region through us,” Anderson continued.
“Sandler O’Neill’s commitment to education recovery in this city shows incredible support and unrivaled character,” said James Ross, Louisiana management consultant for NeighborWorks America. “Creating homeownership possibilities for teachers is a huge first step in retaining and fostering some of this city’s most important assets.”
“We hope this donation will help contribute in a small way to the revitalization of the New Orleans area. NHS is a terrific organization and is playing a key role in attracting and retaining teachers to New Orleans. Providing the young people of this community with a quality education will be essential in helping the city recover from the devastation of Hurricane Katrina,” says Jimmy Dunne, senior managing principal of Sandler O’Neill.
View video from local television station WDSU.
About NHS of New Orleans
Neighborhood Housing Services of New Orleans has provided counseling for close to 5,000 families, generated over 240 mortgages (worth $4.9 million) and close to $9 million in construction, and directly helped 773 families become first-time homebuyers in the last decade. NHS is a member of the nationwide NeighborWorks network of more than 245 community development organizations working in more than 4,400 urban, suburban and rural communities across America.
