West 30’s Redemption Company was founded in January 2017 to provide affordable housing for lower-income families in the West 30’s neighborhood in Covington.
We are a 501(c)3 non-profit organization that was created to help families in the West 30’s overcome multi-generational poverty through ownership of a good quality affordable home. Typical middle class families in America participate in the wealth creation process through the purchase of their home. Following years of payments on their mortgage loan and inflation increasing its value, most families’ largest financial asset is their home. Families who rent all of their lives do not get to participate in that wealth creation process. Helping families become homeowners for the first time is one way they can begin to make the move from poverty toward prosperity.
During its first four years of operation, West 30’s Redemption Company has served 20 families by providing them with new or newly renovated affordable houses. Ten of these families were already living in the West 30’s and all 20 are homeowners for the first time. We anticipate serving another 20 families during 2021 and the first quarter of 2022. If you would like to apply for a new or newly renovated home, get more information here.
The costs of acquiring, renovating and building our houses are typically funded through 80% commercial bank loans and 20% equity, which comes from “Supporter Loans”. The Supporter Loans are typically 2-3 years in term, are unsecured promissory notes that pay 2% - 3% interest, and vary in amount. Our smallest Supporter Loan is $1,000 and our largest is $100,000. If you would like more information about our Supporter Loan Program, click that link. There are also opportunities to sponsor families or help support our organization through a tax-deductible gift, click here for more info.
Are We Faith Based?
Absolutely! We are committed to sharing the love of Jesus Christ with all who serve and to all who are served through our ministry. We work with area churches through Faith Partnerships that are spiritual partnerships rather than financial partnerships. We have a goal of having a Faith Partnership for each house we work on. The Faith Partnerships vary in structure, but they include some or all of the following components provided by members of the partner church – their prayers, their presence, their gifts, and their service. If your church would like information about Faith Partnership, click here.
We are thankful for the leadership provided by the Advisory Board of West 30’s Redemption Company. The company was founded by Bryan Burns in January 2017 and Bryan now serves as the Executive Director. It is governed by an Advisory Board consisting of 15 Directors who meet bi-monthly, serve on operating Committees, and they are charged with running the non-profit organization. Additionally, there are up to 15 Members of the Advisory Board who have a heart for our ministry and a desire to serve. The Advisory Board is an accomplished, diverse, and distinguished group of leaders representing the faith community, business, non-profit, government and community leaders. We pray that their service will be a blessing in their lives and in the lives of those families whom they will serve.
Click on an image to view the bio of the members of the advisory board.
ADVISORY BOARD DIRECTORS
ADVISORY BOARD MEMBERS