The Lanes give $100,000 to housing fund for PV district teachers The Lanes give $100,000 to housing fund for PV district teachers (December 01, 2004)

**Zero-interest loans help Portola Valley teachers, staff with rent-related expenses, down payments.

By Marjorie Mader

Almanac Staff Writer

Bill and Jean Lane of Portola Valley have doubled their contribution to a fund they established several years ago to help teachers and staff in the Portola Valley School District with their housing needs.

The Lanes made an additional $100,000 gift to the zero-interest loan fund, which has helped 20 percent of the district's teachers.

The Teacher Housing Assistance Program began in 2001-2002 with "our earlier anonymous gift of $100,000," said Mr. Lane. "Our wish is to help new and established teachers, as well as staff on special occasions, to obtain affordable housing and be able to accept or continue employment by the Portola Valley School District," he said.

The fund offers no-interest loans of up to $5,000 each to help teachers and staff get into the rental housing market by covering their first and last month's rent and related expenses. Loans, now up to $20,000, are available to help teachers make a down payment on a home. The loans are repaid by employees over 24 to 48 months through monthly payroll deductions.

"We are so lucky to have Ambassador and Mrs. Lane in our lives," said Deborah Rappaport, president of the Portola Valley School Board. She said 17 district employees have benefited from the Lanes' special fund.

"Jean and I have long believed that a top-flight public education system goes hand-in-glove with the priorities that were the leading forces that were heavily supported by voters to incorporate the town in 1964," said Mr. Lane.

"We all know that the real and lasting quality of our school district in the lives of our children rests with the quality of the teachers,."

It is the couple's hope, he said, that this additional funding can help maintain "the highest level of teaching that has earned statewide recognition for student performance" in the Portola Valley district.

Superintendent Anne Campbell underscored the importance of the housing fund with some statistics. Nine of the district employees have obtained rent-related loans, totaling $45,200; another eight have received loans totaling $80,000 for down payments on home mortgages. Four rent-related loans have been repaid as of last month. Loan payments go back to the fund to be used as future housing loans.

"The Bill and Jean Lane Housing and Staff Assistance Progam is truly an asset to the district, and has contributed significantly to enhancing its on-going teacher recruitment and retention effort," said Superintendent Campbell.

For additional information about the program, contact Superintendent Campbell or Assistant Superintendent Tim Hanretty at the district office, 851-1777.
E-mail Marjorie Mader at mmader@AlmanacNews.com

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