Thread: Recently bailed-out Citibank gives $1.75 million to La Raza

La Raza gets money for foreclosure rehabs

By Arthur H. Rotstein
The Associated Press
Arizona Republic -- Phoenix
Tucson, Arizona | Published: 07.24.2009

In a pilot program, the charitable arm of Citigroup is giving the National Council of La Raza money to help buy foreclosed homes in Phoenix for rehabilitation and ultimate purchase by low-and moderate-income Latino families.

In all, New York-based Citi Foundation is providing $1.75 million to the NCLR, of which $235,000 will go to its Raza Development Fund. That'll allow the fund to acquire, maintain and rehab properties to sell or lease.

Raza Development Fund chief Tom Espinoza says the fund will add about $4 million and federal stimulus program money will boost the total to about $12 million to target bank-owned vacant foreclosed properties.
He's hoping at least 100 families in three hard-hit Hispanic neighborhoods in Phoenix will be able to buy homes.

http://www.azstarnet.com/altsn/default/ ... hru/302118

Citigroup
399 Park Ave.
New York, NY 10043 (Map)
Phone: 212-559-1000
Toll Free: 800-285-3000

They get taxpayers money in bailout funds and turn around and make a hispanic-only charitable contribution to society? Thats mighty racist of them imo...

Originally Posted by Tbow009

They get taxpayers money in bailout funds and turn around and make a hispanic-only charitable contribution to society? Thats mighty racist of them imo...

DITTO! Its outrageous.

Oh, goody, more homes for illegals.

Originally Posted by cjbl2929

Raza Development Fund chief Tom Espinoza says the fund will add about $4 million and federal stimulus program money will boost the total to about $12 million to target bank-owned vacant foreclosed properties.
He's hoping at least 100 families in three hard-hit Hispanic neighborhoods in Phoenix will be able to buy homes.

http://www.azstarnet.com/altsn/default/ ... hru/302118

WTF?!? This is how you failed the first time idiots! If they're unable to buy homes its because they CANT AFFORD IT!! Take that money and renovate those homes. Once that is complete, sell them to people with good credit and jobs that can maintain their home.

Only reason they're doing this is because the GOVT will provide 70% of the rent for these low income developments. Oops did i say government? I meant the American tax payers.

Raza Development Fund chief Tom Espinoza says the fund will add about $4 million and federal stimulus program money will boost the total to about $12 million to target bank-owned vacant foreclosed properties.
He's hoping at least 100 families in three hard-hit Hispanic neighborhoods in Phoenix will be able to buy homes.

$12 million for 100 homes?!?!?! What's included in the rehab? Gold toilets?

Is this even legal? It's discrimination in it's worst form. These "homes" will not be available for non-hispanics? Yep, discrimination.

I AM OUTRAGED!!!!!!!!!!!!!!!!

HOW IS THIS ALLOWED TO HAPPEN WITH OUR TAX DOLLARS & BAILOUT MONEY????!!!!!!

Originally Posted by HippieChick

I AM OUTRAGED!!!!!!!!!!!!!!!!

HOW IS THIS ALLOWED TO HAPPEN WITH OUR TAX DOLLARS & BAILOUT MONEY????!!!!!!

We are no longer in control of our government. They are a runaway train.

Originally Posted by April

Originally Posted by HippieChick

I AM OUTRAGED!!!!!!!!!!!!!!!!

HOW IS THIS ALLOWED TO HAPPEN WITH OUR TAX DOLLARS & BAILOUT MONEY????!!!!!!

We are no longer in control of our government. They are a runaway train.

you can say that again, and aint that sooooooooooooooooo freaking special.