Peoples' Self-Help Housing

The Mission of Peoples' Self-Help Housing is to provide affordable housing and programs leading to self-sufficiency for low-income families, seniors, and other special needs groups on California's Central Coast.

We hope you will enjoy this September issue of our PSHH E-News.  Please share it with your family, friends and business associates.

Peoples' Self-Help Housing E-Newsletter

PSHH Workshop Leads to Happy First-Time Homeowners! New Shoes for School Thanks to Deacon's Shoe Fund Children Receive School Supplies from First Presbyterian Church of SLO Giving Corner Casas las Granadas - Watch a Stunning Slideshow! Staff News Upcoming Events

Have a Great Holiday!

Peoples' Workshop Leads to Happy First-Time Homeowners!

As a result of attending a free Peoples' Self-Help Housing's "First Time Home Buyer Education" workshop, Nick and Anna Brannen were able to realize their dream of home ownership in June 2009.

Nick, a fruit and produce freight manager in San Luis Obispo, went to a PSHH-sponsored workshop in Grover Beach about two years ago. Anna is a project coordinator at Cal Poly.

The two-hour seminar facilitated by PSHH's Eric Michielssen, inspired Nick to apply for an IDEA savings account at Coast National Bank in San Luis Obispo. A requirement to participate in the program is to earn a certificate from attending the financial educational training, which includes how to save for a down payment, loan options, budgeting, etc.

Under the program Nick deposited $500 a month for ten months; the $5,000 that he saved was then thrice-matched by the federal program, so Nick then had $20,000 for a down payment. The couple was assisted by Charles Fruit, Executive Vice President and Community Development Manager at Coast National Bank, and Brian Kerrigan, PSHH Housing Counselor.

After 18 months of searching for a house and watching housing prices and interest rates decline, Nick and Anna were able to purchase an eight-year-old 1500 square foot affordable home.

"I am very grateful to be able to get into the program. This will be our home for many years to come," stated Nick.

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New Shoes for School Thanks to Deacon's Shoe Fund

Thanks to the hard work and generosity of the community of Carpinteria and the congregation of the Carpinteria Community Church, the children of Dahlia Court and the Carpinteria Camper Park were given Payless ShoeSource gift cards for new shoes to start the school year. The Deacon's Shoe Fund and the Adopt a Family Christmas Program have helped hundreds of Carpinteria children over the years.

The Community Church was also a force in advocating for the rehabilitation of the Dahlia Court apartments into attractive, safe, affordable rental housing in Carpinteria. They have also sponsored and run an after school Kids Klub program at Dahlia Court since it was purchased by Peoples'. Thirty three kids from Dahlia Court attended the recent Vacation Bible School at Community Church. A good time was had by all. Many thanks to all the folks at Carpinteria Community Church for their donations of time, talent and treasure. 

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Children Receive School Supplies from First Presbyterian Church of SLO

First Presbyterian Church of San Luis Obispo congregation members collected money during the summer months for back to school supplies. The funds provided backpacks and school materials to over 50 low income children in San Luis Obispo County. This was their third annual drive to help Central Coast families. The children were very grateful and excited! 

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Giving Corner

What is Estate Tax?

The Estate Tax is a tax on your right to transfer property at your death. It consists of an accounting of everything you own or have certain interests in at the date of death According to the IRS, the fair market value of these items that is used is not necessarily what you paid for them or what their values were when you acquired them. The total of all of these items is your "Gross Estate." The includable property may consist of cash and securities, real estate, insurance, trusts, annuities, business interests and other assets.

Once you have accounted for the Gross Estate, certain deductions (and in special circumstances, reductions to value) are allowed in arriving at your "Taxable Estate." These deductions may include mortgages and other debts, estate administration expenses, property that passes to surviving spouses and qualified charities.

After the net amount is computed, the value of lifetime taxable gifts (beginning with gifts made in 1977) is added to this number and the tax is computed. The tax is then reduced by the available unified credit.

A filing is required for estates with combined gross assets and prior taxable gifts exceeding $1,500,000 in 2004 - 2005; $2,000,000 in 2006 - 2008; and $3,500,000 effective for decedents dying on or after January 1, 2009. For additional information, refer to IRS Form 706.

If you would like to a confidential, no-obligation conversation about the effects of estate planning or charitable giving on estate tax, contact Rochelle Rose CRFE, Development Director at Peoples' Self Help Housing at rocheller@pshhc.org or (805) 962-5152 x227

Please visit our GiftLaw pages for articles, updates case studies and valuable information about planned giving opportunities.

PSHH Planned Giving Gift Law Info Pages

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Casas las Granadas in Santa Barbara

Watch a stunning slide show about this affordable multifamily project, courtesy of Builder Magazine. 
Click Here!

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Staff News

Welcome to Guisela Esparza,
the new Property Manager at Ladera Street Apartments in Santa Barbara.

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