BOFA DONATES CARS TO COUNTY'S BACK-TO-WORK PROGRAM.Byline: Deborah Sullivan Daily News Staff Writer Ventura County is on the road to welfare reform with Bank of America's donation of two vehicles to a low-cost car loan program designed to get welfare recipients back to work. The bank is donating a used Chevrolet Celebrity The Chevrolet Celebrity was a mid-size car built by the Chevrolet division of General Motors. The Celebrity was introduced in 1981 for the 1982 model year. Sales were strong — the Celebrity was the best-selling car in the United States in 1986. and a Toyota Corolla The Toyota Corolla is a compact car produced by the Japanese automaker Toyota, which has become very popular throughout the world since the nameplate was first introduced in 1966. In 1997, the Corolla became the bestselling car in the world, with over 30 million sold as of 2007. from its fleet ``to be used as Ventura County sees fit in a return-to-work welfare program,'' said Brian Thiele, vice president of the bank's employee transportation programs. ``It's an opportunity for Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. to give something back to the community,'' Thiele said. ``I've been working with Ventura County on welfare-to-work issues, particularly in the transportation area.'' The cars will be used for a pilot program in which welfare recipients can get guaranteed loans through the county credit union at affordable interest rates and low monthly payments, said Supervisor Frank Schillo. The loans would aid welfare recipients ``who are willing, able and qualified for jobs and who have had jobs in past but who may get a job in Simi Valley Simi Valley (sē`mē, sĭm`ē), city (1990 pop. 100,217), Ventura co., SW Calif. in an oil, fruit, and farm region; laid out 1887, inc. 1969. when they live in Oxnard,'' he said. The county has not yet identified any loan recipients, said Helen Reburn, chief deputy director of the Public Social Services social services Noun, pl welfare services provided by local authorities or a state agency for people with particular social needs social services npl → servicios mpl sociales Agency. ``What we have at this point is some profiles of some actual clients who could get a job if they had reliable transportation,'' she said. ``Whether those would be the exact same families who would subsequently be the right ones to purchase the cars through this loan program is uncertain at this point.'' The two cars available are older models, from the mid- to late '80s, but have been diligently maintained and are in good working condition, Thiele said. Schillo said the vehicles would be transferred to the new owners through a Thousand Oaks Thousand Oaks, residential city (1990 pop. 104,352), Ventura co., S Calif., in a farm area; inc. 1964. Avocados, citrus, vegetables, strawberries, and nursery products are grown. nonprofit organization Nonprofit Organization An association that is given tax-free status. Donations to a non-profit organization are often tax deductible as well. Notes: Examples of non-profit organizations are charities, hospitals and schools. , Visions for Recovery. This would allow Bank of America or other potential donors to claim the donations as tax deductions Tax deduction An expense that a taxpayer is allowed to deduct from taxable income. tax deduction See deduction. , he said. The loans would be administered through the County Credit Union and spread out over time to lower the monthly payments, Schillo said. And the county will help make sure that the recipient is able to meet such ownership expenses as auto insurance and maintenance. ``The cost of the insurance would be included in the loan,'' Schillo said. Supervisor Judy Mikels, who has supported Schillo's efforts to start the program, said she was initially concerned about involving the county in the used car business. Bank of America's donation, she said, provides a good opportunity to see how the program will work. ``The applicants that would be eligible are those who are truly trying to make the program work for themselves and their families,'' she said. |
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