FOR IMMEDIATE RELEASE

Contact: Bill Ballas 804-233-2827 ballasb@elderhomes.org

ElderHomes Named State’s Best Housing Organization in 2005/06 Area Non-Profit Named Winner of Governor’s Award

ROANOKE, September 21, 2005 – A local non-profit agency has won the 2005/06 Governor’s Award as the commonwealth’s Best Housing Organization. ElderHomes Corporation was presented the award by Bill Shelton, Director of Department of Housing and Community Development for the Commonwealth of Virginia.

Over the past 12 months, the agency improved the living conditions and lives of approximately 1,937 clients (homeowners, renters, and household members) by repairing their homes, and providing affordable, safe and secure apartments for seniors. In fact, 33 homeowners facing eviction were able to remain in their homes as a result of its work.

“This is a great honor,” said Mary C. Payne, ElderHomes Corporation Chairman. “It is also humbling because we were assisted during the year by Virginia LISC and so many outstanding housing organizations in the state.”

About 66% of ElderHomes’ clients live at or below 125% of the poverty line. Another 30% are at or below 150% of poverty.

Nearly 81% of its clients are over age 60, 70% are women, and 15% have a substantial physical disability.

ElderHomes’ mission is to improve the living conditions of low-income, elderly and persons with disabilities in the city of Richmond, and Charles City, Chesterfield, Goochland, Hanover, Henrico, New Kent and Powhatan counties. It’s unofficial motto is “Housing is our business, and people our passion.”

ElderHomes rehabs and weatherizes housing, and develops affordable apartment complexes for low-income seniors who prefer to rent. It also helps prospective homebuyers of all ages to access special financing. These individuals could not otherwise become homeowners.

ElderHomes provides services leveraging its 400 volunteers with its 23-person paid staff. Volunteers are needed to repair the homes of low-income, elderly, or/or disabled area residents who are ineligible for government assistance due to where they live or the type of home repair(s) required.

ElderHomes has partnerships with state and local governments, non-profit and faith-based organizations, trade and civic groups, community action agencies, private foundations, businesses, and individuals. These parties contribute valuable assets to the agency in terms of client referrals, volunteers, expertise, and cash and in-kind donations.

According to a recent survey, 94% of persons over age 60 wish to remain living at home as long as possible. These individuals were able to “age in place” in better living conditions and enjoy a better quality of life. By helping seniors remain in their homes, ElderHomes helped contain the enormous social costs associated with housing low-income, elderly, and/or disabled persons in group facilities. Private insurance companies estimate that these costs in central Virginia are, on average, $31,000 per person per year.

Since its inception, ElderHomes has helped more than 10,000 homeowners “age in place” by repairing in excess of 6,000 homes, and developing 364 affordable senior apartments for those who prefer to rent. It’s newest product, Parham Park Place II, contains 51 apartments and is slated to open next year in northern Henrico County.

EHC was founded in 1992 by the Capital Area Agency on Aging (CAAA). The

CAAA believed that it could best serve its constituents’ housing needs by forming a community development corporation to develop and expand existing housing services.

ElderHomes is led by an active Board of Directors, whose chairperson is Mary C. Payne, former Executive Director of CAAA. It was under Ms. Payne’s leadership at CAAA that led to ElderHomes’ creation.

Lyn Boyer Haines has served as the Executive Director of ElderHomes since 1999. Under her guidance the organization’s annual operating budget has grown from $1 million to just under $5 million today. ElderHomes has 23 full-time staff, and operates from its corporate office at 88 Carnation Street, Richmond, VA 23225.