Director Gambrell to Participate in Opening Celebration for Recovery Act Awardee's Workforce Readiness Center

Recovery Act Resources Enable Junior Achievement of Southern California to Operate New Facility in Compton’s Gateway Towne Center

Washington, DC - As part of an effort to highlight the local impact of the American Recovery and Reinvestment Act (Recovery Act) awards made by the Treasury Department’s Community Development Financial Institutions (CDFI) Fund, Director Donna J. Gambrell will travel to Compton, California to participate in the opening celebration for the Junior Achievement Workforce Readiness Center.

Director Gambrell will participate in the celebration and ribbon cutting at 3:30 PM PDT on Thursday, April 22nd at Gateway Towne Center, a new multi-anchor shopping center that has created 450 jobs for local residents. The center has benefited from $29 million in New Market Tax Credits from the CDFI Fund through awards to Lake Forest-based Clearinghouse CDFI, which prevented foreclosure on the project and allowed construction to be completed. The new Junior Achievement Workforce Readiness Center will operate out of donated retail space and will provide needed services to local residents, schools, and other non-profit community groups in the Compton area. The donated space was made possible because of the New Markets Tax Credit financing.

Interested media should contact Kathy Bonney (Clearinghouse CDFI) at kathyb@clearinghousecdfi.com or (949) 525-4980; or Bill Luecht (CDFI Fund) at luechtw@cdfi.treas.gov or (202) 622-8042.

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