What is an example of LIIFs work?
The Los Amigos and Manzanita Homeownership Developments (see photos below) are located in Windsor, a small community in Northern California. Eighteen families of the Los Amigos project and 20 families of the Manzanita project are working hard and getting their hands dirty in the Self-Help Program, a program through which eligible low income families participate in building their own home, exchanging sweat for equity. “My husband and I have to put in 30 hours per week, which translates to a $35,000 down payment money we would never have been able to save!” says Cindy Floyd, homeowner. LIIF’s YES to affordable housing enabled Burbank Housing Development Corporation to receive a $2.5 million loan to build 38 affordable single family one- and two-bedroom homes. The low income families will save nearly $11.7 million in mortgage payments over a 30-year period and receive the value of $1.3 million in sweat equity savings that can help pull families out of poverty and towards economic security
