April 7, 2010

Davis Street Secures Loan to Buy its Building

The Davis Street Family Resource Center recently received a loan that will enable it "to complete the purchase of the building and immediately reduce agency overhead costs," said Executive Director Rose Padilla Johnson. The loan from the Northern California Community Loan Fund bridges the gap between the $1.7 million Davis Street has already raised and the $2.5 million cost of the building.

Davis Street has been raising money to buy the building for more than a year after a 2008 independent assessment on Davis Street's long-term sustainability recommended a capital campaign to purchase the building. Contributions to the campaign so far have included $500,000 each from the City of San Leandro and the Eden Township Healthcare District, and $100,000 from the Alameda County Behavioral Health Services Agency using Measure A funds, with the remainder from private foundations and local, corporate, and individual donations.

Davis Street is continuing its capital campaign to reach its goal of $3.5 million, which will help pay back the loan and fund capital improvements at the facility.

The Davis Street Family Resource Center serves low income families and individuals in San Leandro and the Eden area by providing family support services, medical and dental care, food, clothing, employment training, transportation, and children's services. For information on the capital campaign, visit https://www.davisstreet.org/Lists/CapitalCampaign/NewForm.aspx. Davis Street is located at 3081 Teagarden Street in San Leandro.

Posted by Mike Katz-Lacabe at April 7, 2010 5:13 PM | TrackBack
Comments

It is interesting that the city could not afford $100K for school crossing guards and wants to raise taxes, but could donate half a million to a private organization.

Posted by: Frank at April 8, 2010 2:29 PM

This is good news, they do a lot of good work for families in need.

Posted by: Barry at April 8, 2010 8:36 PM
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