Making Dreams Come True

Encouraging home ownership, neighborhood upkeep and thriving business were the RDA’s goals in 2000. Loans funded by the City’s First Time Homebuyer Program, totaling $244,780, enabled 11 families who might not otherwise have had the opportunity to purchase their own homes and experience the joy of home ownership.

West Covina allocated $1 million in state-mandated set-aside funds for the City’s Housing Preservation Program, “Paint Up, Fix Up.” Part of the City’s Community Reinvestment Strategy, this program is designed to help low- and moderate-income homeowners reinvest in their homes by funding low-interest loans to fix up and paint their homes. Forty households in two local neighborhoods have been able to refurbish their homes, with loans totaling $360,971.05.

These funds are designated solely for external fix-up and clean-up improvements and have enhanced the appearance of our neighborhoods.

The funds return to the City for additional future loans to new families.

The agency also promoted business opportunities in the city.

The RDA established relationships with merchants through one-on-one assistance. As a result of the enterprising efforts of agency staff, Hong Kong Supermarkets at the Glendora/Vine Shopping Center and a 14-acre shopping center are among future plans for West Covina.

The relocation of Clippinger Chevrolet to West Covina’s Auto Plaza was a major success. This deal will bring an additional $500,000 to $700,000 in annual tax revenues to the City.

In addition, the agency entered into a partnership with the Chamber of Commerce to leverage dollars to provide economic development and business retention services.

Agency staff worked with the Chamber of Commerce through the highly successful Business Outreach Program to jointly visit 373 local businesses. Businesses welcomed the information and resources given to them during the visits and commented that they felt better equipped to deal with business issues involving the City.