PURPOSE OF CFP
The purpose is to provide affordable rental housing to Refugees some of them fleeing religious persecution in Iraq and other Middle Eastern countries. Phoenix is one of the major centers for such refugees given the existing immigrants from such areas, similarities in climate and supportive government and faith-based organizations facilitating resettlement and meeting charitable needs. It is anticipated that families may live at CFP at least one year. Some may stay much longer until they are able to resettle into permanent living situations. It is expected that the refugee crisis will last several years and that demand for such rental housing will remain high.
FINANCING
CFP will be largely funded by donations from individuals, foundations and other nonprofits, grants from corporate, foundation and government entities, and other organizations. In addition, it is the intention of Caritas in Veritate to have CFP financed by a regionally-based bank with favorable terms consistent with the Community Reinvestment Act of 1977 (“CRA”), whereby banks support low-to-moderate income housing in the regional market areas they serve. It is anticipated the influx of refugees will fill the units within three months. The rental income from the units will cover the debt service.
CIV AFFILIATES ENSURE FULL SERVICE TO RESIDENTS
CIV will work with other local nonprofits and governmental and christian agencies to assist in employment and training, offering English as a Second Language (“ESL”) education, job search assistance, acculturalization programs, legal assistance in gaining citizenship and drivers licenses, cultural support, and other charitable services including counseling, basic medical and dental help, trauma and spiritual support. CFP will be located near businesses that provide cultural goods, services and employment to the displaced and refugees. CIV is supported by its unique infrastructure of a partnership with 26 other established organizations and nonprofits currently serving of the poorest of the poor locally and in other areas.
OTHER
Presently, Phoenix houses more than 60,000 refugees, and there is a large number on the wait list for local resettlement. Since the Arizona climate resembles the Middle East and Africa, it attracts new immigrants plus other recent refugee immigrants relocating here from the Northeast and Midwest.