Omar Yunes On Rising Real Estate Costs and the Effects on California Charities

**Update** Find more information on Omar Yunes on fundacity.com

The rising real estate values in California are affecting charities. Many nonprofit organizations survive on grants and donations from the public and from the government. When rents in areas such as San Francisco and Los Angeles rise drastically each year, this creates a problem of remaining in existence for charities. While some are forced to fold, others manage to take in enough extra money to cover their costs or are able to move to a more affordable space.

Why Is This A Problem For Californians?
From tax help and medical services to adult job training assistance and childcare, there are nonprofit organizations for nearly everything. These charities help low-income families and individuals get services or items that they may not be able to afford alone. When California charities are forced to close because of increasing real estate costs, the people who rely on their services and products are forced to go without or pay for them on their own. Since rising rents also affect consumers, this creates a new multi-faceted financial problem for them.

San Francisco: A Case Story
San Francisco boasts one of the highest per-capita income rates in the country. With its increased economic growth after the Great Recession, it has one of the most expensive real estate markets in the country as well. Although it is viewed as the leading city pulling California out of the aftershock of the Great Recession, the city's charities and residents who rely on those charities are in trouble.

When presented with the problem of rising real estate costs for nonprofit organizations, the city awarded $2.7 million to several local charities to help them afford rent and other real estate costs. However, that amount was only distributed to about 13 charities, which is a tiny fraction of the city's nonprofit organizations. Mayor Ed Lee said that he planned to seek billions more in city contracts for nonprofits in the next several years.

Mayor Lee's plan would also include $6 million to be distributed over the span of two years to qualified charities for real estate expenses. Since many San Francisco charities cannot move to nearby lower-priced areas such as Oakland, the grant money would allow some organizations to purchase the buildings they rent rather than continue paying ever-growing rental rates. The mayor and city officials said that they also were pleased to see the diversity of this year's grants, and they feel that this measure is a step in the right direction.

About Omar Yunes
Mr. Yunes is pleased to enter the real estate market at such an exciting time. The young entrepreneur became a franchisee and opened his first Sushi Itto restaurant. Since then, Mr. Yunes has expanded and owns several other Sushi Itto franchise stores in Mexico. His ownership comprises an impressive 10 percent of the brand's locations.

Recently, Mr. Yunes received the Best Franchisee of the World Award in Italy for his impressive professional growth over the years and his dedication to success. He also works hard to help his employees reach their goals and be successful. Franchisees from 34 countries were competing for the prestigious award. With his entrepreneurial spirit, Mr. Yunes is ready to see how far his endeavors in real estate will take him.

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