FAS recently partnered with the City of Los Angeles as part of the City’s ongoing effort to revitalize neighborhoods in the Los Angeles area hardest hit by the foreclosure crisis. On March 29th, FAS’s Chief Operating Officer, Greg Tolander, joined several City of Los Angeles officials at a groundbreaking ceremony to kick off the first “Bridges to Business Success” construction project at a foreclosed property in Panorama City, acquired through the City’s Neighborhood Stabilization Program (NSP).
The Bridges to Business Success Program is a unique and creative public-private initiative providing small minority business owners with procurement training and contract opportunities, which create and retain jobs. This initiative aligns with federal, state and local government efforts to utilize NSP funds to create jobs and rehabilitate NSP-acquired properties in Los Angeles.
The City of Los Angeles was awarded approximately $143 million in NSP funds from the Department of Housing and Urban Development (HUD) to address the negative impact of foreclosures, stimulate the creation and retention of jobs, and advance the stabilization of neighborhoods. In partnership with Restore Neighborhoods LA, Inc. (RNLA), the Los Angeles Housing Department (LAHD) has acquired, rehabilitated or developed over 780 units of housing and created or retained over 1,100 fulltime and part-time jobs.
FAS is working with LAHD to ensure the rehabilitation projects are completed with the highest quality standards. As the construction manager for each project, FAS will oversee the demolition, redesign, materials choice and actual construction of each and every home renovated as part of the Bridges to Business Success program.
According to Tolander, “It’s so rewarding and refreshing to be part of such a great revitalization effort. LAHD and its partners have created an amazing, one-stop shop initiative that will restore one of the hardest-hit communities in the nation. We hope to transfer the experiences gained through the Bridges to Business Success program to other municipalities as a way to restore communities struggling from the foreclosure crisis. It’s a great example of how dedicated and committed public-private partnerships can have a tremendous impact.”