June 27, 2019 

LAWT News Service 

 

WHAT: Bank of America is bringing its new Down Payment Grant program to Southern California as part of its recent $5 billion commitment to help more than 20,000 individuals and familiesbuy a home. The new program and existing offerings are together called the Community Home­ownership Commitment.

 

• Through the new Down Payment Grant program, the bank will give – no repayment necessary – eligible homebuyers 3% of the home purchase price (up to $10,000) to be used for a down payment. The grant program is limited to one specific mortgage product.

 

• Plus, qualified homebuyers may also be eligible for the bank’s closing cost grant program, a lender credit through which they could receive up to $7,500 toward non-recurring closing costs or, in some instances, to buy down their interest rate.

 

• And, through Oct. 31, 2019, the bank is waiving the lender origination fee on Freddie Mac Home Possible®, FHA, VA or Affordable Loan Solution® loans, which could mean a savings of approximately $1,000, depending on the situation. 

 

This means eligible homebuyers in Los Angeles, Orange County, and the Inland Empire could receive as much as $17,500 to help them purchase a home. There are restrictions, such as the property must be owner-occupied, so a Bank of America lending specialist can help interested homebuyers determine their eligibility.

 

WHY: While many people today can afford a monthly mortgage payment, the upfront costs of homeownership can be a challenge. In fact, 69% of prospective homeowners say the biggest barrier to homeownership is saving enough money for a down payment and closing costs, according to Bank of America’s Homebuyer Insights Report. Now, Bank of America is helping them get over this hurdle.

 

For more information on Bank of America’s Community Home­ownership Commitment, Sentinel readers may contact Telebah Woods, local SVP of Consumer Lending at (323) 313-2942.

Category: Business

June 20, 2019 

LAWT News Service 

 

This week, Mayor Eric Garcetti nominated Denise Verret as the next Director of the Los Angeles Zoo and Botanical Gardens. Currently the Zoo’s Interim Director, Verret brings over two decades of experience at the L.A. Zoo to the role.

 

“Denise brings a wealth of expertise, knowledge, and dedication to the task of meeting the core mission of the L.A. Zoo: setting the highest possible standard for animal welfare and delivering a positive experience to every visitor,” said Mayor Garcetti. “I have no doubt that Denise’s record and leadership will ensure that the L.A. Zoo continues to be one of the best-run zoos in the world.”

 

As Director of the L.A. Zoo, Verret will oversee the well-being of more than 1,400 animals and two million visitors each year. Verret will also take the reins of the Zoo’s nationally-recognized California Condor Recovery program, which helped bring the endangered birds back from the brink of extinction. If confirmed by the City Council, she will be the first African-American woman to lead a zoo accredited by the Association of Zoos and Aquariums.

 

“I am deeply humbled by the opportunity Mayor Garcetti has entrusted in me as we pursue the transformation of making the Zoo a uniquely Los Angeles experience,” said Verret. “I am constantly in awe of the commitment and passion my fellow Angelenos share for the ­betterment of animal welfare, both in our community and in the wild. I share this passion as well, and am excited to lead the dedicated staff as we continue to show the world that the Los Angeles Zoo is a leader in conservation impact and in saving animals from extinction.”

 

“I have known Denise Verret as a brilliant leader and someone deeply committed to animal welfare. In her years at the Zoo, she has demonstrated a broad understanding of animal care and conservation, as well as an incredible ability to get things done,” said Councilmember David Ryu. “I know that she is the right person to lead our Los Angeles Zoo, and I look forward to working with her as Zoo Director.”

 

“Denise Verret is an experienced and thoughtful zoo professional prepared to lead the Zoo into what I hope will be a new era of creative management and enhanced concern for animal welfare,” said Councilmember Paul Koretz. “I look forward to working with her to make the Los Angeles Zoo a more progressively-run environment for the animals that call it home.”

 

Verret has worked for the City of Los Angeles for 30 years, and spent the last 19 years as the Zoo’s Deputy Director. In that role, she led the development of the L.A. Zoo Strategic and Vision Plan, and served as a Zoo Accreditation Inspector for the national Association of Zoos and Aquariums for the last 14 years.

Category: Business

June 20, 2019 

By Danny J. Bakewell Sr. and Jeffery T.D. Wallace 

 

Bakewell Media, owner of the Los Angeles Sentinel and LA Watts Times, in partnership with LeadersUp, a proven talent development accelerator, are teaming up to tackle the staggeringly high unemployment rate among mid-career African Americans, young adults and other people of color in South Los Angeles.

 

The two companies have aligned their missions to identify and unite corporate and civic leaders, celebrities and other influencers to create pathways to full-time jobs with benefits to ensure that South L.A. residents capitalize on job opportunities generated by major infrastructure projects, including the Automated People Mover, civil service, and construction related to Super Bowl 2022 and the 2028 Summer Olympics.

 

With access to jobs and resources, South L.A.’s unemployed represent $500 million in untapped economic potential for L.A. County. South Los Angeles currently has an unemployment rate 39 percent higher than the national average.  Deemed unacceptable, the two companies merged, launching an ongoing movement convening dignitaries, celebrities, CEOs, community leaders and other influencers, who can move the needle as it relates to economic empowerment of South L.A. residents.

 


“LeadersUp is honored to partner with the Sentinel in helping to elevate the talent and opportunities that are right here in South L.A.,” president and CEO of LeadersUp, Jeffery T.D. Wallace said. “We look forward to shifting the narrative on what is possible for communities in South L.A. and help drive the economic growth by investing in the young people who will shape the future of Los Angeles.”

 

LeadersUp will identify, train and connect diverse talent with employer partners, including members of LeadersUp’s Fair Chance Coalition of companies that have adopted inclusive hiring practices such as #banthebox, to consider a candidate’s qualification and not their arrest or conviction record. At Taste of Soul Family Festival, on October 19, LeadersUp will host the Taste of Opportunity jobs pavilion again this year. Job-seekers will be able to speak with employment counselors and register to attend the LeadersUp Future at Work Summit the following week. There, job-seekers will have a chance to interview and get hired on the spot for careers in transportation, construction, retail, healthcare, technology, and entertainment.

 

“It’s time for a CALL TO ACTION. There are opportunities to advance the conversation, practices and outcomes for our future workforce. If talent is left behind or remains disconnected, all communities throughout Los Angeles will suffer. Connecting the talent and potential of South L.A. residents to our growing economy is a true investment in the future of Los Angeles. It’s not too late; in fact, it’s about time,” said Bakewell, Sr.

 

About LeadersUp

 

Established in 2013 by the Starbucks Corp. and forward-thinking business leaders, LeadersUp is an independent 501(c)3 nonprofit and talent development accelerator that works to address the burgeoning opportunity divide and national youth unemployment crisis. LeadersUp provides professional development training and career opportunities via its Future at Work Summits in Chicago, Los Angeles and the Bay Area/Silicon Valley, to connect young adults who are out of work and not in school with employers in need of talent.

 

 

For the last five years, uplifting the untapped potential of young adults has been a social and economic imperative that the organization has been committed to by addressing business -hiring needs with a pipeline of ready-to-work young adults. For more information, visit leadersup.org.

 

 

About LA Sentinel

 

LA Sentinel, owned by Danny J. Bakewell, Sr., president & CEO of Bakewell Media, is an 86-year-old African American Newspaper and multi-media hub, embedded in the heart of South Los Angeles’ Black Community.  Bakewell is also a civil rights and community activist, and entrepreneur who is committed to the improvement of the community, the welfare of the youth, and lowering the unemployment statistics of African Americans and other people of color. 

Category: Business

May 30, 2019 

City News Service 

 

Reward offers totaling $75,000 were in effect today for information leading to a conviction in the killing of a USC jazz student – the son of an Oakland city councilwoman – in an apparent robbery attempt blocks from the campus.

 

Victor McElhaney, 21, was killed just after midnight March 10 near Maple Avenue and Adams Boulevard. Police said McElhaney, a student at USC’s Thornton School of Music, was approached by three or four men in their 20s who tried to rob him, leading to the shooting.

 

McElhaney was the son of Oakland City Councilwoman Lynette Gibson McElhaney. He was part of the USC jazz studies program with an interest in the relationship between music and social and political movements. He also mentored young musicians and taught at the Oakland Public Conservatory of Music.

 

The Los Angeles City Council approved a $50,000 reward Tuesday, and the Los Angeles County Board of Supervisors offered another $25,000 reward for information in the case.

 

“It’s disheartening to know the killers are still on the loose while a family and entire community ­continues to grieve in search for answers,” City Councilman Curren Price said when he introduced the motion calling for the reward. “I hope (the reward) sends a clear message: We are committed to finding these killers and bringing them to justice.”

 

Shortly after the killing, Lynette McElhaney said her son “believed that music could heal the world of violence and sickness and addiction.” The councilwoman and her family recently accepted their son’s college diploma during USC commencement ceremonies.

 

Anyone with information on the killing was asked to call LAPD’s Southwest Division at 213-485-2582. Tips also can be submitted to Crime Stoppers at 800-222-TIPS.

Category: Business

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