Fall 2022
President & CEO Dianna Bowser Receives 2022 Game Changer Award
Our very own Dianna Bowser was awarded the Game Changer Award by VHA's Executive Director, Brian Koziol at the Annual Awards Luncheon on September 15th. Dianna's award nomination featured numerous accomplishments spanning her 26+ year career in affordable housing development. Outstanding highlights included establishment of SCDHC's comprehensive, HUD-approved housing counseling program and launch of Virginia's first Spanish-English bilingual financial opportunity center with LISC Virginia's support creating a unique eco-system of wrap-around services to empower low- to moderate-income residents in the Richmond community with the tools to become self-sufficient and propser. Dianna's efforts have notably contributed to significant revitalization in some of Richmond's most challenged neighborhoods leaving a lasting legacy while increasing affordable housing homeownership opportunity.
Holiday Spending Tips
Contributed by Twandra Lomax-Brown
Don’t break the bank this Holiday Season!
The holiday season is rapidly approaching while advertising gets earlier and earlier each year! The best way to plan for holiday spending is to prepare a budget and stick to it. Review last year's budget/purchases and consider all of your major spending categories: gifts, entertaining, meals/food (remember we eat more during the holiday), and travel. Prioritize and see where you can cut back. Consider different payment options - cash, credit, debit, check or money you have saved or budgeted to spend for the holiday. Get creative with less expensive gift alternatives like homemade treats, note cards and stamped envelopes so an older person can keep in touch, a framed family photo or a tax-deductible charitable contribution in honor of your loved ones are thoughtful gift options. Spending quality time with family instead of purchasing more '"stuff" can create cherished memories.
Top Tips to Remember
Prepare a budget & stick to it
Include all purchases in your budget
Lack of budgeting can cause additional debt
Think about the best payment options
Comparison shop, use coupons or other discounts
Consider making homemade treats/items as gifts
Quality time can create cherished memories
Resist the temptation to over-spend during the holidays to avoid ruining your New Year when those bills arrive!
WORTH BIPOC Initiative Announcement
On October 14th, LISC Virginia and Wells Fargo announced the launch of the WORTH (Wealth Opportunities Resorted Through Homeownership) BIPOC Initiative, which aims to create 5,000 new homeowners who are Black, Indigenous, or people of color in the Central Virginia Region by 2025!
At the announcement event, Nena Coleman, one of SCDHC’s Hollands subdivision homebuyers, spoke alongside leaders of LISC Virginia, Virginia Housing, the Wells Fargo Foundation, Mayor Stoney, and Petersburg Mayor Parham. Nena spoke about her journey to homeownership, the importance of creating generational wealth, and how working with SCDHC helped her become a first-time homebuyer.
Her story was so moving that the President of the Wells Fargo Foundation, Otis Rolley, stated it was an honor to share the stage with her.
We are excited that Wells Fargo and our partner agencies have committed to advancing racial equity in the region and believe our work over the next 3 years will help more folks like Nena become homeowners!
As part of the Wells Fargo WORTH BIPOC Initiative, SCDHC will be building new homes, providing housing counseling, and helping homebuyers with down payment assistance and match savings programs. These mission-aligned efforts further contribute to SCDHC creating viable, thriving sustainable communities.
RVA Diamond Partners Chosen to Redevelop Richmond’s Diamond District!
SCDHC is excited to announce our work as the nonprofit partner in Richmond’s new Diamond District redevelopment project! The highlights of the project feature a new baseball stadium for the Richmond Flying Squirrels and a beautiful, new public park.
As a partner in this project, SCDHC will build new affordable housing, offer HUD-approved housing counseling services, and provide workforce development and financial coaching for residents of the new Diamond District!
Financial Opportunity Center
People We Serve - Success Story
Perseverance is key and Ms. N is living proof. Ms. N first contacted the Financial Opportunity Center (FOC) when she was working two jobs and barely making ends meet. She wanted to improve her credit and long term financial stability.
The FOC Financial Coach assisted Ms. N in developing a budget to help alleviate some of her economic strain; however, shortly after starting work with her coach, funding for one of Ms. N's jobs was cut and she was laid off. Ms. N then began working with the FOC Employment Specialist to assist her with job placement. Disaster struck again and Ms. N lost her remaining job and only source of income. Although she was discouraged, she did not give up!
The FOC team rallied to assist Ms. N with benefits access, financial relief and food stability services all while assisting her in seeking employment. Through these efforts, Ms. N was able to land a temporary contract position, but the income was not enough to sustain her family and she was forced to use her credit cards to pay regular monthly bills. She slowly sank further into high interest debt. The FOC team did not give up and continued coaching Ms. N until she obtained a full-time hob paying a living wage!
Throughout these difficult times, the FOC coaches met consistently with Ms. N helping her to focus on one challenge, one bill, and one stressor at a time until finally, her efforts paid off!
Since then, Ms. N has improved her credit score by 30 points, remaining employed and self-sufficient. Her next goal is to become a first-time home buyer!
Thank you to our new funders!
We are extremely grateful for all of the partners and donors who help make our work possible.
Recently, the Foundation for Financial Independence (Heritage Wealth Advisors), Peoples Bank, and Chesapeake Bank have all invested in the work of our Financial Opportunity Center. We are humbled by the support each of these organizations has provided us with and we are excited about the impact we will make together!
Jim’s Handy Home Hints
Your home is the largest investment you will ever make!
Here are a few tips to help protect that major investment:
1. Plan for preventative maintenance. Despite the claims, few things are truly maintenance free; houses are no exception. While it’s a bitter pill for most homeowners to swallow, the fact is that preventative maintenance, with all the time and money it requires, is still far more cost effective than managing the crisis when something breaks and then scrambling to arrange and pay for repairs. Regular maintenance by a licensed technician can help you avoid costly repairs, extend the life expectancy of components, and in some cases, reduce energy consumption which saves $$$ on utility expenses.
2. Purchase a Home Warranty Package. Service visit fees, parts and labor charges add up quickly with no guarantee the problem is solved. A home warranty can reduce the amount you spend on repairs. And, if the equipment is unrepairable, your home warranty can greatly reduce your out-of-pocket expense for replacement.
People we serve - getting “tech savvy”
The FOC receives funding from LISC Virginia to provide digital skills services including individualized one-on-one appointments, access to laptops/tablets, and group computer skills workshops to increase technology competence.
SCDHC’s FOC has delivered over 60 Digital Literacy Workshops benefitting over 100 Richmond area community members since November 2021
Through regular outreach and collaboration with community partners, the FOC attends local events to promote awareness and access to FOC services. Recently, several Richmond Public Libraries expressed interest in these services for patrons specifically in need of computer, tablet and smart phone digital skills, so we are now working directly with local branches to meet the demand for these services in our community.
Check Out Our Housing Counseling Center!
Are you interested in purchasing your first home? Down Payment Assistance now available in our Hollands Subdivision!
Consider purchasing your new home in “The Hollands” Subdivision located on McDonough Street. Eligible home buyers can potentially qualify for additional financial assistance to increase their buying power. ASK US HOW!
All homes are Earth Craft built for energy efficiency offering space and style. Contact us to choose your floorplan and discuss your options with a HUD Housing Counselor today!