Native American Bank Helps Tule River Tribe of California Break Ground for Uniquely Financed Affordable Housing Complex
DENVER, Jan. 21, 2020 - Denver-based Native American Bank, N.A. this month helped the Tule River Indian Tribe of California-s San Joaquin Valley break ground on an affordable housing complex capitalizing on unique financing through Native American Bank, in an important step toward addressing the affordable housing crisis that runs through Indian Country and the entire U.S.
The complex in Porterville, Calif., will bring much-needed affordable homes to Tribal members through 15 single-family homes and 25 townhouses scheduled for completion late this year, and available to about 40 families in early 2021. Families will qualify at or below 60 percent of Area Median Income (AMI), with rents ranging from $471 - $1,092.
Self-Help Enterprises (SHE) is the co-developer with the Tule River Indian Housing Authority (TRIHA), overseeing building of the Nupchi Xo' Oy complex, which will include 34 three-bedroom and six four-bedroom residences, as well as a 2,000-square-foot community building with study, computer and laundry space.
Native American Bank, the only national community development bank owned by a consortium of Tribes, Tribal Corporations, and Alaska Native Corporations, is providing a $2.7 million loan, guaranteed by the U.S. Department of Housing and Urban Development (HUD) through its Title VI program. The program is reserved specifically to support Tribally Designated Housing Entities (TDHEs), and The Bank has helped steer multiple TDHE projects through the HUD Title VI process.
Nupchi Xo' Oy, which means a friend's or close relative's village in the Yowlumne dialect, one of Tule River's native languages, will offer a robust onsite resident services program that will include job training, health and wellness services, financial training, homebuyer education and a variety of youth afterschool activities. The Tule River Tribe will also provide cultural services at the onsite community building, including a language program and other educational activities.
"We're honored to help bring complex layers of financing together toward the simple goal of creating attractive, affordable housing for tribal members and to boost economic development for the Tule River Tribe and Housing Authority," said Native American Bank Business Development Officer Veronica Lane.
"This project is our first large-scale affordable rental project for the TRIHA," said Christina Dabney-Keel, Chairperson of TRIHA Board of Commissioners. "We undertook this effort several years ago starting with our search for suitable acreage and then conducting many months of due diligence so the site would meet the approval of the Department of Housing and Urban Development. Once completed, we secured a recognized housing development partner in Self-Help Enterprises to make this affordable housing project a reality and now by early 2021, 40 Tule River families will be enjoying the comforts of a new home."
SHE currently owns and operates 33 affordable rental communities serving 1,482 families throughout the San Joaquin Valley.