Hispanic Enterprise - June/July 2008 - (Page 32)

COVER STORY Today, TELACU owns 13 individual businesses, and uses 20 percent of its proﬁts to fund community programs. It was Lizárraga who developed TELACU’s innovative model that is built on four key business sectors—real estate development, ﬁnancial services, construction and construction management. “Mr. Lizárraga is an example of the American spirit through which dedicated, hard-working and enterprising individuals don’t just get ahead, but in striving for a better life for themselves, they empower others to realize the American Dream,” says U.S. Rep. Lucille Roybal-Allard (D-CA). As Lizárraga sees it, a new home and a good job provide the foundation for building the American Dream. That’s why TELACU builds and sells thousands of quality homes to ﬁrst-time homebuyers, as well as communities for senior citizens and California’s growing workforce. To spur job creation in inner city communities, TELACU also builds industrial, commercial and retail projects. Access to capital is also critical. TELACU’s ﬁnancial services division owns and operators Community Commerce Bank, an FDIC-insured bank, and TELACU Community Capital provides economic assistance to small businesses that don’t meet lending criteria of commercial banks. Finally, TELACU Construction and TELACU Construction Management build and oversee the construction of new community assets, including schools, transportation projects, government facilities, water transmission an distribution systems, public housing and recreational centers. “The struggle has been long, but rewarding. Each job we create pumps new life back into our communities through hard work with dignity and self-respect. Each new homeowner represents a pair of strong hands, building our neighborhoods with their personal commitment,” Lizárraga says. “Each young person whose mind is set free through education is a pair of eyes that looks into our future with conﬁdence and ability. With each success comes a renewed sense of pride and purpose.” Branching out into U.S. business Over the years, Lizárraga has established or acquired other related businesses to help fulﬁll TELACU’s mission. TELACU Weatherization, for example, provides energy-saving measures and repairs to 10,000 low-income households each year—at no cost to the homeowner. Then there’s South Coast Shingle, a wholesale building materials business, and the TELACU Education Foundation, which just celebrated its 25th anniversary in May. “Twenty-ﬁve years ago, recognizing that few of our Latino young people were graduating from high school and even fewer from college, the TELACU Education Foundation was created to address this critical obstacle to the social and economic advancement of our community,” Lizárraga says. “Together Savoring L.A.’s Latino Heritage When David Lizárraga is not running TELACU, he’s got his hands in other ventures. He’s also a partner in the trendy Tamayo Restaurant, a Los Angeles cultural landmark that celebrates the rich heritage of California’s Latino community through cuisine, art and architecture. The restaurant, launched in 1988, is in a renovated 1928 hacienda-style home with high ceilings donning dark wood beams, water falls trickling in the background and walls covered with the colorful paintings of 88-year-old Mexican artist Ruﬁno Tamayo. Tamayo, the restaurant’s namesake, is one of Mexico’s foremost living painters. with our partners, TELACU is investing in our community’s greatest asset—our young people—and empowering them to become leaders through educational opportunity and attainment.” To develop the next generation of Latino leaders in government, Lizárraga has served on the board of the Congressional Hispanic Caucus Institute, offering educational and leadership development programs to increase participation by young Hispanics in the public and private sectors. Lizárraga has served on the boards of the California State University Foundation, the Independent Colleges of Southern California, and as a Trustee of Whittier College. “The American Dream is the opportunity to create a better life for oneself and one’s family,” Lizárraga says. “By providing people with the tools for prosperity, TELACU is helping to keep that dream alive in communities throughout California.” HISPANIC ENTERPRISE 32 June/July 2008

Table of Contents Feed for the Digital Edition of Hispanic Enterprise - June/July 2008

Hispanic Enterprise - June/July 2008 Contents Briefcase: BIZBUZZ: Business Briefs Briefcase: Dynamic Trends Briefcase: Q&A Briefcase: Trendsetters BizLife: BizTech BizLife: Travel Feature: Target: Hispanics Cover Story: A Legend in His Own Time Feature: Top 25 Franchises Success & Motivation: The Talent Scout Education: Success by Degrees Finance & Investing: A Tough Sell Social Events: Emerge Dallas Politics & Government: The Accidental Americans Managing: Deconstructing Networking

Hispanic Enterprise - June/July 2008

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