For Immediate Release: February 24, 2007 Contact: Holly Heine Hollyheine@jerichohousing.org news@estopinalgroup.com 504-895-6763 office 504-895-6637 fax Episcopal Housing Group Establishes Law Enforcement and Public Safety Partnership With Orleans Criminal Sheriff’s Office Jericho Road Opens Three New Modular Homes for Sale in Central City (New Orleans, La)— Today, the Jericho Road Episcopal Housing Initiative announced a first-ever law enforcement and public safety partnership with the Orleans Criminal Sheriff’s Office in Central City, and officially opened three new homes for sale in Central City. Joining the Jericho Board and its Chairman, Bishop Charles Jenkins of the Episcopal Diocese of Louisiana at the announcement was Orleans Criminal Sheriff Marlin Gusman, District “B” Council Member Stacy Head, Saundra Reed Co-Director of Central City Renaissance Alliance, and representatives of the Mayor’s Office. Also represented were members of the religious community, businesses, and other faithbased and neighborhood organizations. According to Brad Powers, Executive Director of Jericho Road, the partnership between Jericho Road and the Criminal Sheriff’s Office will allow us to turn our post Katrina challenges into opportunities. “Our efforts today will open the pipeline of information about home buying opportunities for Sheriff’s office employees and at the same time begin to establish a permanent presence in our neighborhoods of law enforcement personnel and strong role models,” said Powers. According to Orleans Criminal Sheriff Marlin Gusman, this partnership will provide in the short term necessary housing and in the long term a foundation to renew our neighborhoods that have faced considerable obstacles post Katrina. Gusman said, “Through its other partners Jericho Road will provide practical home buyer training and begin planting the seeds for my office to work from within the neighborhood to create mentor programs. Together we hope to achieve the ultimate goal of fostering a more stable environment that would improve the quality of life for young people and families in the Central City Neighborhood.” Over the next 12-18 months, Jericho Road will begin its initial construction phase of approximately fifty (50) homes. These new homes will reflect the character and rich architecture that celebrates the New Orleans style. Another Home by Jericho Road Homes will be sold at cost, or approximately $115,000. Buyer assistance financing for qualified individuals will also be available. The Jericho target market is working professionals who earn 80% or less than the Average Medium Income (AMI) as established by the United States Department of Housing and Urban Development (HUD) for the New Orleans metro area based on family size. For example, 80% of AMI for a family of (4) four is approximately $41,850. Designed and installed by American Renaissance Homes, the traditional New Orleans three bay single shotgun homes are on the open market and are selling for $115,000. Each of the 1,100 square foot homes include 3 bedrooms, 2 bathrooms, central air conditioning, a large front porch, appliances, carpeted bedrooms, and landscaping. These homes signify a new beginning for this Central City community. Jericho Road, along with this neighborhood’s spirit and determination to rebuild, will provide homes that families can afford and take pride in. Jericho Receives Titles to Properties Under Targeted Neighborhood Program The Jericho Road Episcopal Housing Initiative gained the first titles to adjudicated properties under the City of New Orleans Targeted Neighborhood Development Project. These first three properties are located in the Central City neighborhood on Danneel and Dryades streets. Jericho Road, is the first organization to complete the process among twenty-two developers participating in the city’s targeted redevelopment program, whose goal is to return approximately 2,500 city controlled properties to commerce. Jericho Road was awarded the right to obtain 50 properties in this first round of the city’s program. Six additional Central City properties requested by Jericho Road await final approval. More than 30 other properties will be assigned to Jericho Road in the coming weeks. In its first phase of development, Jericho Road plans to obtain 50 properties in the Central City neighborhood of New Orleans to build quality, affordable homes. Jericho Road Episcopal Housing Initiative The Jericho Road Episcopal Housing Initiative creates quality homes for families in the City of New Orleans. Jericho Road was formed in March 2006 and is a partnership of the Episcopal Diocese of Louisiana and Episcopal Relief and Development (ERD). ERD, the international relief and development agency of the Episcopal Church, focuses on three program areas— emergency relief and rebuilding, food security and primary health. ERD is providing technical support to Jericho Road and supplied the initial funding totaling $2.3 million which will be used for administrative management, property acquisition, and construction. The funding from ERD combined with planned financing from various community development corporations will result in an investment in the New Orleans Central City neighborhood of over $20 million.