[Congressional Record Volume 141, Number 41 (Monday, March 6, 1995)]
[Extensions of Remarks]
[Page E519]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


 RECOGNIZING THE GOLDEN STATE WARRIORS AND FANNIE MAE'S EFFORTS IN THE 
                                EAST BAY

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                        HON. FORTNEY PETE STARK

                             of california

                    in the house of representatives

                         Monday, March 6, 1995
  Mr. STARK. Mr. Speaker, I stand before you today to recognize a 
partnership which is making a significant difference in northern 
California. Fannie Mae, the Golden State Warriors and their owner, 
Christopher Cohan, have joined in an effort to alleviate some of our 
community's housing needs.
  About a year ago, Fannie Mae and the Golden State Warriors basketball 
team created the Home Team Fund--a program which assists low-income 
families and first-time home buyers. In this short period, they have 
conducted an extensive consumer outreach effort, raised funds for 
actual construction, and have even pounded nails themselves during the 
construction of two new homes.
  According to Fannie Mae, a lack of knowledge and a fear of the home-
buying process prevent many qualified people from taking that first 
step to buying a home. To tackle this problem or should I say slam-
dunk, Fannie Mae and the Warriors sponsored a free Home-Buying Fair at 
the Oakland Coliseum in April 1994. Local lenders, real estate 
professionals, counseling agencies, and housing nonprofits were there 
to encourage and educate those who thought owning a home was out of 
their reach. More than 5,000 people attended this one day fair to learn 
about how to buy a home.
  The partnership has also raised funds which provide grants for actual 
construction. In fact, a portion of the gate receipts from this 
evening's game, and proceeds from a sports memorabilia auction prior to 
the game, will be contributed to this fund.
  Their voluntarism has also included hands-on efforts. In a project 
managed by East Bay Habitat for Humanity, Warrior players, coaches and 
staff participated in the actual construction of two new homes in East 
Oakland. This year, two additional homes will be built and will be sold 
to families who contribute ``sweat'' equity to the project.
  Mr. Speaker, I hope you and my colleagues will join me in 
congratulating this unconventional, but successful housing partnership. 
Mr. Cohan and the Warriors' altruistic concern for its community is 
deserving of special recognition, and we should encourage more 
organizations to enter into these sort of joint ventures.


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