ST. PAUL – The St. Paul Affordable Community Housing Society (SPACH) raised over $14,000 at a Valentine's Day fundraiser.
The non-profit volunteer group is raising money to build an affordable home in the community.
Attended by about 180 guests, the Feb. 14 event featured an Italian-cuisine dinner, entertainment by Ryan the Short, and a silent auction with over 30 donated items from businesses.
Thanks to strong support from the community, the fundraiser exceeded expectations, said Louise Severin, president of SPACH. She thanked everyone who donated, sponsored, and helped out with the event.
“We raised over $14,000.”
The project to build a house is part of the group’s affordable housing project to construct two single family homes for low-income families in St. Paul. The lots for the properties were donated by the Town of St. Paul.
At the beginning of the year, the society reached its fundraising goal of $94,500 in cash for the first house with a $25,000 grant from the Alberta Real Estate Foundation. A recipient for the house has also already been chosen.
The recipient will need to do 500 hours of community service, carry a small mortgage and maintain the property for that long before the full title transfer can occur.
Now, the society is fundraising for the second house. That is where the $14,000 from the Friday fundraiser will go toward.
“We’re raising around 40 to 45 per cent of the actual cost to build a house,” and the future recipient for the house will cover the rest through a mortgage, explained Severin.
Applications are not yet open for the second house, but Severin asks the community to watch for updates in the future.
“We're doing it in order to provide a stable place for families to build their own equity instead of putting all their money into rent,” said Severin. “We want families to be able to be self-sufficient.”
Severin said applicants who will likely qualify for the house are families with two working members, such as a husband and wife, and families who are in the lower-income range and are unable to put down enough money for a mortgage.
“With us raising the 40 per cent, they don't need a down payment anymore, they just need to be able to make those monthly mortgage payments,” she said.
