2006

May 2006

Media Contacts: Julie Campbell, Wells Fargo (916) 440-4588 campbeju@wellsfargo.com
Chris Davis, Peoples' Self-Help Housing, (805) 687-3322 cd@surfmedia.com

Peoples’ Self-Help Housing Awarded $50,000 Challenge Grant from Wells Fargo Housing Foundation

Goal: help create more affordable housing in Santa Maria

Santa Maria, Calif. – May 22, 2006 – Today, Peoples’ Self-Help Housing, a nonprofit housing corporation, announced the Wells Fargo Housing Foundation will provide PSHH with a one-for-one “Challenge Grant” of up to $50,000 to help create more affordable housing in Santa Maria. The “Challenge Grant” will be made through the Focus Communities program, which develops affordable home ownership opportunities. The Wells Fargo Housing Foundation designed the Focus Communities program to help local housing organizations. In turn, this reduces an organization’s dependency on the decreasing pool of government funds.

The $50,000 commitment will be distributed to People’s Self-Help Housing in the form of a challenge grant. PSHH will then coordinate a six-month campaign to raise money for an affordable housing initiative. At the end of the six-month period, the Wells Fargo Housing Foundation will match the funds raised, dollar-for-dollar, up to $50,000.

“We strongly support Peoples’ Self-Help Housing efforts as it allows our team members to take an active role in helping find solutions to the serious problem of the lack of affordable housing for low-income families. This challenge grant is one way to get the entire business community involved in making affordable housing available,” said Erica Huntzinger, Market President for Santa Maria.

“We are deeply appreciative for the continued high level of support that the Wells Fargo Housing Foundation has for our affordable housing efforts. Their assistance has directly led to increased housing opportunities and services for our most vulnerable populations,” said Jeanette Duncan, Peoples’ Self-Help Housing Executive Director.

--Media Advisory--

What: Peoples’ Self-Help Housing and the Wells Fargo Housing Foundation will hold a press conference to officially kick-off the alliance

When: Wednesday, May 24, 2006, 10 am.

Where: 407 E. Main Street in Santa Maria

The Wells Fargo Housing Foundation is a program of the Wells Fargo Foundation and represents the philanthropic arm of Wells Fargo Home Mortgage. Wells Fargo Home Mortgage is one of the nation's leading residential mortgage lenders and services. It operates the country's largest mortgage network from more than 2,400 mortgage and Wells Fargo banking stores and the Internet and services loans for over 5 million customers nationwide.

Peoples' Self-Help Housing is an award winning non-profit organization with 35 years of experience developing affordable housing and community facilities for low-income and special needs households. With over 1000 ownership homes completed and over 1200 rental units developed, PSHH continues to strengthen its reputation and leadership position as the premiere affordable housing and community developer on the Central Coast. PSHH is committed to developing vibrant neighborhoods, building attractive, high quality housing and to providing innovative community services, so their residents have every possible opportunity to succeed in life. www.pshhc.org