Citizens Bank and Manchester Neighborhood Housing Services (MNHS) teamed up with the New Hampshire Fisher Cats this season and help low income families in the Greater Manchester region purchase a home of their own. To celebrate the partnership, the Citizens Bank Foundation made a check presentation of $30,000 to MNHS at last night’s final home game of the NH Fisher Cats.

As part of the “Bringing You Home” partnership, for every run scored at home by the Fisher Cats this season, the Citizens Bank Foundation donated $100 to Manchester Neighborhood Housing, for a grand total of $30,000. These funds will help MNHS provide individual counseling to 75 families in the Greater Manchester so they may purchase a home of their own.

“Citizens Bank is a leader in helping to find solutions to the growing affordable housing gap that exists in Greater Manchester,” states Robert Tourigny, Executive Director of Manchester Neighborhood Housing Services. “Its financial and volunteer support helps to provide home ownership opportunities where none previously existed for hard-working families in this region. This partnership demonstrated that continued commitment.”

The Citizens Bank Foundation contribution will also enable MNHS to work one on one with individuals and families who have graduated from MNHS’ home ownership seminar program and are ready to engage in a more diligent process to purchase homes of their own, including cleaning up credit issues, qualifying for a mortgage and going through the home ownership process.

“A gap certainly exists between affordable housing and families’ ability to purchase. We are eager to help solve that problem by supporting community programs like “Bringing You Home” that will help families get into their own homes through the support of the Manchester Neighborhood Housing organization,” said Cathy Schmidt, president and CEO of Citizens Bank New Hampshire. “The New Hampshire Fisher Cats helped make that happen this year, as they scored 300 runs at home this season, which translates into $30,000 that Citizens is donating to Manchester Neighborhood Housing. Congratulations to the entire Fisher Cats organization for a great season, and for helping us “bring it home” for this great program.”

According to Tourigny, this assistance from Citizens will go a long way toward bringing families one step closer to owning their own home.

“The reality is that the median sale price of a home in Manchester in 2006 is $215,000 (according to data from the New Hampshire Housing Finance Authority). The area median family income for a family of 4 in this region is $63,000. The monthly mortgage payment for a family making this amount is $1,750 (including taxes), which is an extremely high mortgage payment when you consider other family expenses,” said Tourigny. “What happens is that a family making 80% of area median family income (about $59,600) is totally out of the market in terms of buying that $215,000 house. These funds from Citizens will help us assist these prospective home owners in taking that initial step.”

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