Agency receives $1,700 donation
(Photo by MARY MALONE) The Sandpoint branch of Banner Bank donated $1,700 to the nonprofit Bonner Housing Agency Wednesday. From left, Chris Bassett, BCHA executive director; Rhonda Armbrust; BCHA project coordinator; Teresa Nelson, Banner Bank branch manager; and Courtney Lorraine, Banner Bank client service manager.
SANDPOINT — Representatives from the Sandpoint branch of Banner Bank presented Bonner Community Housing Agency with a $1,700 donation Wednesday.
"We are really grateful for local organizations that want to support those who are serving in the community," said BCHA executive director Chris Bassett. "That's a huge sign of success for the community when those with resources are supporting those who need resources to help the community out, so that is really important."
"It's in support of critical services provided by the Bonner Community Housing Agency, and we appreciate their commitment to serve as a beacon of hope to those in need," said Teresa Nelson, Banner Bank branch manager, as she read from a donation letter from bank officials.
The donation letter goes on to state, "Thank you for your inspiring work, we hope this donation will be of value to your wonderful organization."
BCHA was formed in 2007 to develop housing for living-wage households.
Over the last three years, the nonprofit organization has either built or rehabbed 10 homes.
BCHA started in Bonner County and expanded to Boundary County last year. Currently the organization has one home in Boundary and four in Bonner County under $185,000.
A goal of the organization, Bassett said, is to be a central hub of information for housing issues and to provide solutions for housing needs in Bonner and Boundary counties. Bassett said thte organization provides a no-interest, no-payment loan for down payment and closing costs for homebuyers who qualify for the program.
Some of the requirements for homebuyers to qualify include completing an Idaho Housing and Finance Association Finally Home Course, non-retirement savings of less than $5,000 or $10,000 for those 62 years or older, the buyer must invest $500 in the purchase and gross annual household income must be less than 80 percent of the program's area median income.
The area median income chart, for example, lists a maximum income of $29,000 for a family size of one, up to a maximum income of $51,750 for a family size of seven.