2008 Annual Report Executive Summary
FUTURO Empowerment Zone (also a Round II EC)
The Empowerment Zone continues to serve the needs of the five-county FUTURO Region with regard to Housing and Community and Economic Development. During 2008, as the United State’s Economy began to falter, so did the number one project on the horizon for FUTURO’s sustainability: the Low Income Housing Tax Credit Projects for Maverick and Uvalde Counties. The Housing Tax Credit market has a long learning curve and is highly competitive. FUTURO’s plan from 2007 was to gain increased knowledge in the HTC market and to submit projects that would be two-fold: First, they would feel a huge need in the housing market for affordable rental units; and second, the profitability which has kept this market as highly private for-profit ventures, would contribute to the sustainability of FUTURO, thereby allowing the organization to continue operating long after the EZ designation and its goals are fulfilled. However, the fall of the financial markets and its resulting impact on America’s economy has affected FUTURO’s ability to provide certain services to its population in the future. Nevertheless, FUTURO is moving forward with other projects such as the construction of a 50 bed Nursing Home Facility in LaSalle County, providing affordable housing to homeowners through the self-help method, and the continued assistance through a revolving loan fund for small business owners wishing to expand a small business or create a new one.
One of our most significant accomplishments is the Big Wells Community Education Center(CEC). The CEC was built and began operating in 2007. Throughout 2008, the success stories continue to be present. The purpose of the CEC is to provide a Computer Lab and Community Resource Room for the 700-800 residents of Big Wells Texas. The Open House that we conducted in December brought over 100 persons through our door that were exposed to our Housing and Loan Fund Services. Staff continues to speak at community gatherings such as Headstart, Program Meetings for Parents, Informational gatherings for Women, Infant and Children Programs, Parent-Teacher Organizations and the Elderly Nutrition Centers. Much of the feedback from residents at these gatherings, have to do with the need for housing and jobs. The parents at PTO meetings will share their struggles with finding adequate housing and the need for more after-school programs. FUTURO is fortunate to be able to point to the Big Wells Community Education Center as a model for the type of programs that assist the youth as well as the adults.
We joined in the coordination of a multi-million dollar project for Maverick County called the Regional Public Safety Training Center. The purpose of the Center is to provide regional, national and International Public Safety Training, to address Homeland Security Needs and serve as the HUB for the Regional Intra-operative Communications System and current and future Border Safety Needs. In 2008, a planning grant in the amount of $500,000 was awarded to the project to begin the Engineering and Architectural development phases and to assist in gathering the needed resources to move the project forward.