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Director Gambrell, Senator Bingaman Announce Over $10 Million In 2010 Native American CDFI Assistance Awardshttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=56Director Gambrell, Senator Bingaman Announce Over $10 Million In 2010 Native American CDFI Assistance Awards<p><em>​Financial and Technical Assistance to Further Strengthen Expanding Native Community Development Financial Institutions</em></p><p><strong>Albuquerque, New Mexico</strong> – Speaking alongside U.S. Senator Jeff Bingaman (D-NM), the Director of the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund), Donna J. Gambrell, announced today $10.26 million in financial and technical assistance awards through the Native American CDFI Assistance (NACA) Program. Hosted by the Indian Pueblo Cultural Center in Albuquerque, New Mexico, the event celebrated the 45 Native organizations nationwide that received awards in the 2010 round and drew attention to the growing importance of Native CDFIs in their communities and among policy makers.</p><p>The 2010 NACA award announcement recognized an unprecedented number of awardees across nineteen states and emphasized the CDFI Fund’s strong commitment to building the capacity of Native CDFIs to serve Native American, Alaska Native, and Native Hawaiian communities by improving economic opportunity.</p><p>"I am honored to announce the awardees under the 2010 round of the NACA program with Senator Bingaman in New Mexico at a time when Native CDFIs are seeing tremendous growth in their presence and impact," said Director Gambrell. "With each NACA award round, and each new Native CDFI created, access to credit, capital and financial services in Native communities increases, opportunities expand and lives are positively affected. Today’s event adds further momentum towards overcoming the lending barriers in Native communities and towards the ambitious goals in the CDFI Fund’s comprehensive Native Initiatives Strategic Plan."</p><p>The Obama Administration’s FY 2010 budget marked the first time funding for the Native Initiatives has been specifically included in a budget request to Congress. Expanded congressional support and concerted efforts by the CDFI Fund have supported rapid growth in the number of certified Native CDFIs, with the total number increasing over 20 percent in the past year to 57 in eighteen states.</p><p>"I’d like to welcome Director Gambrell to New Mexico and I applaud the Obama Administration for making this important announcement in our state. The economic downturn, which we’re finally emerging from, has hit American families hard – particularly families in Indian Country. As our economy grows stronger, we must ensure that no communities are left behind. The grants awarded today make important investments in the future of Indian Country by supporting housing initiatives as well as small businesses at a time when capital remains tight. These investments will pay off for years to come," U.S. Senator Jeff Bingaman said.</p><p><strong>About the Native Initiatives</strong></p><p>The CDFI Fund's Native Initiatives work to increase access to credit, capital, and financial services in communities by creating and expanding CDFIs primarily serving Native communities. This is achieved through two principle initiatives: 1) a funding program – the NACA Program – targeted to increasing the number and capacity of existing or new Native CDFIs, and 2) a complementary series of training programs, called “Expanding Native Opportunities,” that seeks to foster the development of new Native CDFIs, strengthen the operational capacity of existing Native CDFIs, and guide Native CDFIs in the creation of important financial education and asset building programs for their communities.</p><p>To view the Native Initiatives Strategic Plan entitled, "Financing Native Leaders for Tomorrow" please <a href="/Documents/Native%20American%20Strategic%20Plan.pdf" target="_blank">click here</a>.</p><p><strong>2010 NACA Program Awards</strong><br></p><ul><li><a href="/Documents/2010%20NACA%20AwardList.pdf" target="_blank">2010 NACA Program Award List</a></li><li><a href="/Documents/2010NACAHighlightsofAwardRound.pdf" target="_blank">2010 NACA Program Highlights</a></li><li><a href="/Documents/2010%20NACA%20Award%20Profiles.pdf" target="_blank">2010 NACA Program Awardee Profiles</a></li><li><a href="/Documents/NACAProgram2010%20Web.pdf" target="_blank">2010 NACA Program Award Booklet</a></li></ul><p></p><p>For more information about these awards, or about the CDFI Fund and its programs, please visit the CDFI Fund's website at: http://www.cdfifund.gov.</p>2010-04-30T04:00:00ZPress Releases56
CDFI Fund Director Gambrell Celebrates Opening of New Workforce Readiness Centerhttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=55CDFI Fund Director Gambrell Celebrates Opening of New Workforce Readiness Center<p>​$29 Million in Recovery Act New Markets Tax Credits Supports “Re-Birth” of Compton, California</p><p><strong>Compton, CA</strong> – 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 Fund (CDFI Fund), Director Donna J. Gambrell traveled today to Compton, California to celebrate the opening of the Junior Achievement Workforce Readiness Center. This new permanent community facility is part of 150,000 square feet of developed retail space in the Gateway Town Plaza which has created approximately 450 jobs for local residents. Utilizing an award made under the Recovery Act, Lake Forest-based Clearinghouse CDFI provided $29 million in New Markets Tax Credit permanent financing to prevent foreclosure on the project and allow construction to be completed.</p><p>The Junior Achievement Workforce Readiness Center will be a satellite office for Junior Achievement of Southern California and enable it to provide many of the successful programs and services offered in its acclaimed Finance Park in Los Angeles to the residents, schools and other non-profits community groups in the Compton area. Junior Achievement of Southern California is dedicated to educating students in grades K-12 about entrepreneurship, work readiness and financial literacy through experiential, hands-on programs. The new Workforce Readiness Center will operate out of donated retail space, a condition of the financing made possible through New Markets Tax Credit.</p><p>"It is truly an honor to visit Junior Achievement’s Workforce Readiness Center and see firsthand the tremendous positive impact the Gateway Towne Plaza is having on the re-birth of the City of Compton," said Director Gambrell. "This is a project that speaks to the economic recovery that is taking place in underserved communities across the country and the extraordinary transformational potential of the New Markets Tax Credit for these communities."</p><p>Permitting taxpayers to receive a credit against federal income taxes for making qualified equity investments in Community Development Entities, the New Markets Tax Credit promotes social investment in underserved communities.<br></p>2010-04-22T04:00:00ZPress Releases55

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