“I never dreamed that a community like this could be developed in this area, and now I am a part of it. I just wanted a nice neighborhood where people could raise their kids. The neighbors take pride in the neighborhood and watch out for each other. It is truly a blessing that I could be involved in having a part in building my own home and the homes of my neighbors – the community is now a part inside me.” -Ricky Giles
Tampa Bay Community Development Corporation (TBCDC) promotes homeownership among low and moderate income families in Florida. For more than 25 years, they have provided down payment, closing cost assistance, and counseling to help families plan for homeownership. Their Home Buyers Club has provided counseling to 4,500 people and resulted in 1,600 home purchases since 1994. Their efforts have resulted in more than $214 million in home sales, $192 million in mortgage financing, and $20.6 million in down payment assistance.
Despite strong demand and a successful track record in rural Central Florida, TBCDC had difficulty finding credit when financial markets faltered in 2008. Over-building of high end housing in the coastal regions created a perception that lending in Florida was too risky. After other lenders pulled out, Florida Community Loan Fund asked PCG to help finance the acquisition of land and predevelopment for an affordable housing subdivision in Dade City, FL. This loan helped create 64 affordable single-family homes, known as the Sunset Hills Subdivision.
Ricky Giles, pictured at right, is a retired Coach from Pasco High School. He is the first participant in the Sunset Hills subdivision and the current Vice President of the Property Owners Association. Mr.Giles has lived in the Zephryhills/Dade City area all of his life and got the chance of “hands on” with the realization of homeownership.
