Richmond Community Foundation Celebrates First Successes

Block party for potential buyers and neighbors highlights
transformation of blighted homes

RICHMOND, Calif.–(BUSINESS WIRE)–#MechanicsBankRichmond
Community Foundation
(RCF), Mechanics Bank, civic leaders and
neighbors will celebrate successes achieved by an innovative housing
rehabilitation program funded by social impact bond (SIB) sales, with an
unveiling of the now-completed first home acquired under the program.

Using funds from special bonds issued by the City of Richmond and
purchased by Mechanics Bank, RCF will acquire, rehabilitate and sell
what were blighted homes throughout the city of Richmond. 623 17th
Street is one of two homes the nonprofit has transformed since the
program was launched earlier this year. Formerly abandoned, City code
enforcement officers frequently shooed away squatters from the
97-year-old house. Now, it has new windows, carpets, hardwood and
travertine floors, an all-new kitchen and fresh appliances and lights.
The exterior has been updated with new porches, garage door, building
finishes and landscaping, while keeping the charm of the original
structure.

“It’s really a beautiful home,” says Jim Becker, President and CEO of
RCF. “The next step is finding a lucky first time homebuyer for it.”

A highlight of the event is a lottery to choose which of the potential
homebuyers who graduated from SparkPoint Contra Costa’s First Time
Homebuyers Program will get the first chance at the home.

Please join us for food and refreshments, a tour of the newly
refurbished home and a chance to meet the partners who are making
Richmond better, one house at a time!

When: Thursday, August 18th, 3-5 pm
Where:
623 17
th Street, Richmond, California
What:
Neighborhood Open House Celebrating First Home Rehabilitations

Who:
Project partners, civic and community leaders and local neighbors

Please RSVP to Hatti Hamlin, 925.872.4328, hattihamlin@comcast.net

Contacts

For Mechanics Bank
Hatti Hamlin, 925-872-4328
hattihamlin@comcast.net