The purpose of this request is for financial assistance in the renovation of Village Oduduwa Senior Housing which is necessitated primarily by its age.
Background
The project which was originally built in 1985 has been a consistently reliable resource of low rent housing over the years (32 years now). The non-profit Board and management strive to maintain its safe and enjoyable residential living environment. And, until the more recent years this property has performed more than adequately in comparison to other affordable or subsidized properties in the county.
While satisfactory routine maintenance and systematic provisions for replacements and upgrades have taken place to assure that the property serves its predominantly low and very-low income senior residents well, it is now time for an infusion of capital to extend its useful life and transform it into a residential community that is on par with other more newly constructed affordable housing developments in the area.
Our plan will accomplish the substantial rehabilitation and complete transformation of this aging property by providing greatly needed interior upgrades such as new kitchens and baths as well as making needed structural and common area improvements. These improvements will result in cost saving energy efficiencies, site upgrades and an overall exterior face lift.
Project Budget
When completed, the Rehabilitation of the 23 one bedroom/one bathroom & 2 two bedroom/one bathroom apartment units, community room, laundry room, manager’s office and 3 storage rooms in addition to the other common area and exterior improvements will be approximately $909,960 as briefly summarized below:
- Unit Costs $485,750
- Common Area Costs $270,710
- Other Costs (Soft Costs) $153,500
- Total Renovation Cost: $909,960
We are seeking generous donations from Banks, Tech Companies, other Businesses, Churches, and philanthropic individuals in helping us reach our goal. Village Oduduwa Housing is contributing 118,000.00 (one hundred and eighteen thousand dollars) from its reserve account toward this project.
Village Oduduwa Housing has already secured a loan of 100,000.00 (one hundred thousand dollars) from the Marin Housing Authority under the Residential Rehabilitation Loan program of the Federal Government.
Your help and response to this funding request is deeply appreciated. PLEASE NOTE THAT ALL DONATIONS ARE TAX DEDUCTIBLE in accordance to the IRS regulations. Our corporation is a public benefit corporation under the IRS section 501 (c) (3). Our full IRS information is available publicly and we will provide full information to a donor who needs it. Please help us keep housing affordable in the Bay Area.
Completed Projects
Following are photographs of a recently completed unit.
Sample Unit Needing Rehab
