FORA.tv Speaker - Pete C. Garcia
Pete Garcia is the President and Founder of the Victoria Fund. From 1982 to 2005, he served as President and Chief Executive Officer of Chicanos Por La Causa, Inc. (CPLC) in Phoenix, Arizona, though he worked for the organization in other capacities since 1972.
During his years as President, he brought the organization's asset base from $15 million to more than $155 million. CPLC, one of the original Ford Foundation CDC and Title VII CDCs, is among the leading producers of single-family and multifamily housing in the nation and is a major employer of Mexican-American professionals in the state of Arizona.
It is a statewide entity that serves migrant children, battered women, and people with substance abuse problems while also developing self-help housing and small business incubators.
Garcia oversaw CPLC's purchase and acquisition of more than 2,400 units of affordable multifamily housing. When he saw that many multifamily developments built with HUD finance insurance or mortgages were being sold, he and his staff worked with underwriters and financial institutions, including Fannie Mae, to preserve the housing by packaging several thousand units together with complex financing. The $83 million bond financing transaction will preserve the housing stock for working families and generate additional income for CPLC's general fund and programs.
In his more than 30-year career, Garcia also participated for a year in the Intergovernmental Management Training Program at the Department of Health and Human Services and served as President and CEO of Valle del Sol. Garcia also advocates for consumers through his work with the Federal Home Loan Bank, Community Reinvestment Coalition and Rural Development Finance Corporation and assists communities in the United Kingdom.
09.12.08 | 00:54:04 min
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