Bank of America and Habitat for Humanity of Greater Los Angeles (Habitat LA) have completed the renovation of a home in Compton, which was dedicated to new homeowner Trenisha Dorsey. The home was donated by Bank of America to support the affiliate’s efforts to build affordable housing in partnership with hardworking, low-income families in greater Los Angeles.
“Thanks to the donation of these properties by Bank of America, families like Trenisha Dorsey’s are given an opportunity to build stronger foundations and thrive,” says Erin Rank, president and CEO, Habitat LA. “We are extremely grateful to Bank of America and its employees for caring enough to help us build hope, lives and communities in such a meaningful way.”
Trenisha is a single mother of three children and they all currently live with family in a cramped apartment in an area threatened by nearby gang activity. Trenisha works for Los Angeles County’s Department of Public Social Services and is also working toward her associate’s degree at Southwest Community College. Trenisha has partnered with Habitat LA so that her family can feel safe in their home as well as in their outdoor space.
Home donations are part of a national partnership with Habitat for Humanity International through which Bank of America will donate up to 2,000 vacant properties for renovation or reconstruction over the next three years. Bank of America volunteers helped build alongside Trenisha, as she invested 200 hours of sweat equity toward the purchase of her home.
“We are honored to support families through our home donation program,” said Raul Anaya, Market President for Bank of America. “Our property donations to Habitat for Greater Los Angeles reflect our commitment to creating strong, vibrant neighborhoods and build on Habitat’s longstanding support of revitalizing communities.”
Habitat for Humanity partners with volunteers, donors and people in need to build decent, sustainable and affordable homes. Approximately every five and a half minutes, a Habitat home is being built or renovated somewhere in the world, providing a hand up, not a hand out to Habitat partner homebuyers.
Los Angeles County is still one of the least affordable places to live, and more than half of its residents live below the poverty level. Since 1990, Habitat LA has built and renovated more than 1,000 homes locally and internationally. Habitat LA has been named an “Affiliate of Distinction” by Habitat for Humanity International and was recently named the Largest Non-Profit Residential Home Developer in Los Angeles, by the L.A. Business Journal’s Book of Lists. In the past year, seven Habitat LA partner homeowners have paid off their mortgages, and the organization proudly boasts a less than one-percent default rate across the United States.