NeighborWorks Waco

Street Address:
922 Franklin Avenue
Waco, TX 76701
Mailing Address:P.O. Box 610
Waco, TX 76703

Phone: 254-752-1647
Fax: 254-752-2147
Website: www.nw-waco.org

Roy Nash, Executive Director

Contact Name: Roy Nash
Phone: 254-752-1647x208
Fax: 254-752-2147
Email: roynash@nw-waco.org


Staff Size: Full Time: 8 

Background
NeighborWorks Waco is a private, locally funded, tax exempt community development corporation established in 1993. It is a partnership of local residents, businesses, financial institutions, and city government designed to revitalize deteriorating neighborhoods and provide affordable housing opportunities. NeighborWorks Waco works through a combination of private and public programs to provide households with construction management and lending services. NeighborWorks Waco is also a lender itself providing mortgage loans at flexible interest rates and terms. Loans from NeighborWorks Waco are often made in tandem with conventional private loans. Through such a process NeighborWorks Waco effectively lowers the interest rate and reduces the loan to value risk for the private source. NeighborWorks Waco provides homebuyer loans primarily to households at 80% or below the area median household income. NeighborWorks Waco is led by a 15-member board of directors including 8 residents of the targeted neighborhoods, 2 representatives from lending institutions, 4 business representatives, and local government representatives. NeighborWorks Waco is designated as a Community Housing Development Organization (CHDO) by the State of Texas and the City of Waco. NeighborWorks Waco is a member of NeighborWorks America's national NeighborWorks network. NeighborWorks Waco is also certified as a CDFI (Community Development Financial Institution) by the U.S. Department of the Treasury.

Mission
To Build Stronger Neighborhoods Through Homeownership.

Total Operating Expense (9/30/2007): $837,151

 Lines of Business
  • Community Building and Organizing

  • Home Ownership Promotion Services

  • Lending and Loan Portfolio Management

  • Real Estate Development


    • National NeighborWorks ® Programs
  • NeighborWorks Campaign for Home Ownership
  • NeighborWorks Community Building and Organizing
  • NeighborWorks Rural Initiative

    • Accomplishments in FY 2008
  • Provided 48 families with pre- and post- purchase housing counseling.
  • Rehabilitated or repaired 1 rental or owner occupied units (1-4 units).
  • Assisted 97 families in purchasing a home through homeownership counseling, downpayment, closing cost or financing assistance.
  • Owned or managed 0 rental units.
  • Invested $573,323 in the community through Neighborhood Housing Services of Waco, Inc.'s revolving loan fund, which leveraged $7,056,977 from conventional lenders and other sources.
  • Total direct investment in the community is $7,630,300.

    • Additional Accomplishments
    Date Additional Accomplishment
    12/8/2004 NeighborWorks Waco celebrated their 1,000th new homebuyer in early December, 2004.
    9/30/2005 NeighborWorks Waco constructed and sold 22 new homes in FY2005.
    9/30/2005 NeighborWorks Waco assisted 165 families in becoming first time homebuyers in FY2005.
    10/10/2005 NeighborWorks Waco is leading its new "Sustain the Gain" post-purchase class for past clients.

    Community Services
  • Community Building

  •  Community Outreach and Organizing

  •  Landscape and Neighborhood Beautification

  •  Leadership Training

  •  Neighborhood / Resident Crime Watch

  • Financial Planning and Assistance

  •  Disposition of Foreclosed Property

  •  Down-payment Assistance

  •  Elderly Tax Information

  •  Financial Education

  •  Foreclosure Prevention Training

  •  Tandem Lending

  • Green Building and Home Improvement

  •  Energy Conservation Programs

  •  Environmental Friendly Building Materials

  •  Home Maintenance Training

  •  Home Safety and Security

  •  Sustainable Site Planning

  •  Tool Lending Library

  • Housing Programs and Home Ownership Counseling

  •  Home Ownership Center

  •  Home Ownership Counseling

  •  Housing for Elderly

  •  Housing for Handicapped

  •  Housing for Veterans


    • Board of Directors
    NameBoard Role/TitleSectorCompany/OrganizationJob Title
    Phil AdkinsBoard MemberBusiness  
    Steve BeardenBoard MemberBusinessNeighborWorks WacoSr. Vice President
    Joey DingrandoBoard MemberResidentHewitt 
    Gale EdwardsBoard PresidentResident  
    Joyce GiffordBoard Member Emerita  
    Bob GoodBoard Member; Board Member Emeritus  
    Robert GordonBoard MemberResidentLacy Lakeview 
    Chris GutierrezBoard MemberBusinessTexas Commercial & Industrial Real Estate, Inc.Realtor
    George Johnson, Jr.Board MemberLocal GovernmentNeighborWorks WacoAsst. City Manager

    About the NeighborWorks ® Network
    The NeighborWorks® network is a nationwide network of more than 240 community development organizations working in nearly 4358 urban, suburban and rural communities across America. These organizations engage in revitalization strategies that strengthen communities and transform lives. In the last five years alone, NeighborWorks® organizations have generated more than $8.5 billion in reinvestment and helped more than 500,000 families of modest means purchase or improve their homes or secure safe, decent rental or mutual housing.

    NeighborWorks ® America Contact Information
    District:  Rocky Mountain
    Name:  Josie Martinez-Littig
    Phone:  303-782-4805
    Toll-Free:  
    Fax:  303-782-5568
    Email:  jlittig@nw.org