Fannie Mae Foundation to present $500,000 to UTPA for Valley affordable housing
Posted: 02/03/1999
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EDINBURG - The Fannie Mae Foundation will present The University of Texas-Pan American a $500,000 check Friday (Feb. 5) in the UTPA Annex, 2412 S. Closner.

The ceremony will be at 10 a.m. as part of its University-Community Partnership Initiative (UCPI) to expand affordable housing opportunities for low and moderate income households in select university communities.

"The Fannie Mae Foundation is committed to building creative partnerships and effectively leveraging resources among the private, public and nonprofit sectors for the benefit of distressed communities," said Fannie Mae Foundation President and CEO Ann Marie Wheelock. "The University-Community Partnership with The University of Texas-Pan American is part of our ongoing effort across the nation to transform communities."

The half million dollar grant, which will be presented by Fannie Mae Foundation Vice President Anthony Tansimore to Roland Arriola, vice president-designate of external affairs at UTPA, will benefit the Homeownership Partnership and Empowerment Project (Project HOPE). This comprehensive, collaborative initiative is led by the university to address the need for affordable housing in the Rio Grande Valley Empowerment Zone of Hidalgo County.

"Project HOPE was developed in response to the needs voiced by community residents and public organizations," said Arriola. "The Foundation grant will help fund our efforts and increase access to affordable housing opportunities for low to moderate income families in the Rio Grande Valley."

UTPA will work closely with six partners to address the need for affordable housing through the implementation of Project HOPE. The project will provide community outreach, education and remote learning, housing nonprofit management assistance, and research and evaluation.

The university's partners include the Rio Grande Valley Empowerment Zone, Hidalgo County, Texas Department of Housing and Community Affairs, Valley Mortgage Company, International Bank of Commerce and the Housing Assistance Council.

"I commend The University of Texas-Pan American and the surrounding community for their unique collaboration in creating Project HOPE," said Congressman Ruben Hinojosa, (D-TX). "I am pleased that the Fannie Mae Foundation has recognized this community's potential and needs through the awarding of this half million dollar grant."

For more information, contact Arriola at 956/381-3361.