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Treasury Awards $4.4 Million for Native Communities in 2009 Round of the Native American CDFI Assistance Programhttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=46Treasury Awards $4.4 Million for Native Communities in 2009 Round of the Native American CDFI Assistance Program<p>​<em>CDFI Fund Director Gambrell Highlights Long-Term Commitment to Native Communities</em></p><p> <strong>Washington, DC </strong>- The U.S. Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund today announced $4.4 million in financial assistance awards to 10 CDFIs through the Native American CDFI Assistance (NACA) Program. The awards, which are being made with fiscal year (FY) 2009 appropriated dollars, are designed to encourage the creation and strengthening of certified CDFIs that primarily serve Native American, Alaskan Native, and Native Hawaiian communities. The awardees are located in eight states - Alaska, Arizona, Hawaii, New Mexico, North Carolina, Oklahoma, South Dakota, and Wisconsin.</p><p> "The growth in Native CDFIs is a remarkable accomplishment and their increasing reach and impact within the Native Communities they serve have been tremendous," said CDFI Fund Director Donna J. Gambrell. "We are committed to working with Native CDFIs to increase economic opportunities and bring all Native Communities into the nation’s economic mainstream. I am confident that the CDFI Fund’s new five-year Native Initiatives Strategic Plan, which lays out our long-term, comprehensive strategy to overcoming the barriers to capital in Native Communities, will greatly advance these commitments."</p><p>Further signaling the growing importance of the CDFI Fund’s Native Initiatives among policy makers, the Obama Administration’s FY 2010 budget formally requested funding for the Native Initiatives, marking the first time funding for this effort has been specifically included in a budget request to Congress.</p><p>This past July, the CDFI Fund announced $8 million in Recovery Act awards, and $3.3 million in Technical Assistance-only grants utilizing FY 2009 annual appropriations for the NACA Program. Today’s announcement completes this year’s round by awarding the remaining appropriated funds to the most highly rated applicants in a combined pool that included: 1) applicants that submitted applications in response to the supplemental Notice of Funds Availability (NOFA) published on April 28, 2009 in the Federal Register; and 2) applicants that applied under the initial FY 2009 NOFA published on October 1, 2008 but did not receive a Recovery Act award in the first funding announcement.</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>Organizations funded under the NACA Program serve a wide range of Native Communities, and reflect a diversity of institutions in various stages of development - from organizations in the early planning stages of creating a CDFI, to tribal entities working to certify an existing lending program, to established CDFIs in need of further lending capacity.</p><p>For more information about these awards, or about the CDFI Fund and its programs, please visit the Fund's website at: <a href="http://www.cdfifund.gov/">www.cdfifund.gov</a>.</p><p>To view the new Native Initiatives strategic Plan entitled, "Building Native Leaders for Tomorrow" please<a target="_blank" href="/Documents/Native%20American%20Strategic%20Plan.pdf"> click here</a>.<br><br><strong>2009 NACA Program Awards</strong></p><ul><li> <a target="_blank" href="/Documents/2009%20NACA%20Program%20Award%20List.pdf">2009 NACA Program Award List</a></li><li> <a target="_blank" href="/Documents/2009%20NACA%20Program%20Award%20Highlights.pdf">2009 NACA Program Highlights</a></li><li> <a target="_blank" href="/Documents/2009%20NACA%20Program%20Awardee%20Profiles.pdf">2009 NACA Program Awardee Profiles</a></li><li> <a target="_blank" href="/Documents/2009%20NACA%20Program%20Award%20Booklet.pdf">2009 NACA Program Award Booklet</a></li></ul>2009-09-28T04:00:00ZPress Releases46
Treasury Celebrates 15th Anniversary of CDFI Fund with Day of Servicehttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=14Treasury Celebrates 15th Anniversary of CDFI Fund with Day of Service <p> <strong>Washington, DC</strong> – In honor of its fifteen years of service in providing underserved communities with access to capital and tools for stimulating local economic development, the Community Development Financial Institutions Fund (CDFI) is today hosting a day of service and providing volunteers to four area non-profits that have benefitted from CDFI awards.<br><br>"Today we renew our commitment to providing our most vulnerable communities with the tools necessary for economic development," said Michael Barr, Treasury's Assistant Secretary for Financial Institutions. "For 15 years, the CDFI Fund has worked to revitalize communities around the country. The CDFI Fund's continued efforts provide the opportunity for all of our nation's communities to grow and prosper."<br><br>Fifteen years ago today, Congress created the CDFI Fund to promote economic revitalization and community development in the nation’s underserved communities. The CDFI Fund continues to expand the ability of financial intermediaries to provide capital, credit and financial services to underserved, low-income populations and communities.<br><br>Since its creation, the CDFI Fund has helped communities to build a nationwide network of more than 800 CDFIs and awarded over $1.1 billion to CDFIs, community development organizations and financial institutions through its CDFI Program, Native Initiatives, and Bank Enterprise Award Program. It also has allocated $21 billion in New Markets Tax Credits to Community Development Entities to finance economic development and small business growth across the country.<br><br>"I am pleased to announce that the CDFI Fund is launching a year-long series of 15th anniversary related events and initiatives," said CDFI Fund Director Donna Gambrell. "We are committed to making a reality of our vision of an America in which all people have access to affordable credit, capital and financial services."<br><br>For more information on about the CDFI Fund, or to follow future 15th anniversary announcements and happenings, please visit <a href="http://www.cdfifund.gov/15thAnniversary" target="_blank">http://www.cdfifund.gov/15thAnniversary</a>.<br><br><strong>Background on volunteer sites.</strong><br><br><strong>SOME</strong> – SOME (So Others Might Eat) is an interfaith, community-based organization that exists to help the poor and homeless of Washington, D.C. It not only meets the immediate daily needs of the people it serves with food, clothing, and health care; but helps break the cycle of homelessness by offering services, such as affordable housing, job training, addiction treatment, and counseling, to the poor, the elderly and individuals with mental illness. (<a href="http://www.some.org/">www.some.org</a>)<br><br>SOME received over $4.2 in financing from the OpenDoor Housing Fund, a certified CDFI and CDFI Fund award recipient (CDFI Program).<br><br><strong>Emergence Community Arts Collective</strong> is a non-profit organization whose mission is to foster a spirit of community in the Pleasant Plains neighborhood (Howard University) of Washington, DC through social activities, traditional arts classes, support groups and educational seminars. (<a href="http://www.ecacollective.org/" target="_blank">www.ecacollective.org</a>)<br><br>ECACollective received a $820,000 commercial real estate loan and a $50,000 line of credit from City First Bank of DC, a certified CDFI and CDE, and CDFI Fund award recipient (NMTC Program and BEA Program).<br><br><strong>CentroNia</strong> – CentroNia is a nationally recognized, award-winning educational organization providing affordable, high quality education, professional development and family-support services in a bilingual, multicultural environment to more than 1,700 children, youth and families in the greater Washington, D.C. metropolitan area. (<a href="http://www.centronia.org/" target="_blank">www.centronia.org</a>)<br><br>CentroNia's has received over $400, 000 in financing from Partners for the Common Good, a Washington, D.C.-based certified CDFI and CDFI Fund award recipient (CDFI Program).<br><br><strong>THEARC</strong> - The Town Hall Education, Arts & Recreation Campus – or THEARC – is a 110,000 square-foot world-class education arts & recreation campus located east of the Anacostia River in Washington, D.C. Ten cultural and social service agencies, in addition to a 365-seat theater, are based at THEARC, all of which share the goal of helping underserved children and adults reach their full potential. (www.thearcdc.org)<br><br>THEARC received $9.4 million in financing from City First Bank of DC, a certified CDFI and CDE, and CDFI Fund award recipient (NMTC Program and BEA Program).</p>2009-09-23T04:00:00ZPress Releases<img alt="" src="/SiteCollectionImages/NewsImages/grouptreasbldg.jpg" style="BORDER:0px solid;" />14
Director Gambrell, Mayor Villaraigosa Cut Ribbon Marking Grand Opening of the Animo Watts Charter Schoolhttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=45Director Gambrell, Mayor Villaraigosa Cut Ribbon Marking Grand Opening of the Animo Watts Charter School<p><em>​$9.1 million in New Markets Tax Credits Benefit Over 400 South Central LA Students</em></p><p><strong>Los Angeles, CA</strong> - Cutting the ribbon today alongside Los Angeles Mayor Antonio Villaraigosa, U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) Director Donna J. Gambrell attended the grand opening of the Ánimo Watts Charter High School. Located near one of the poorest performing high schools in South Central Los Angeles, the Ánimo Watts Charter School will be an independent college-preparatory charter school providing students with educational opportunities for success. ExED, the parent company of LA Charter School New Markets Fund provided $9.1 million in financing for the project, made possible through the CDFI Fund’s New Markets Tax Credit Program.</p><p> <br>"I am delighted to see firsthand the positive impact of the Ánimo Watts Charter High School as it represents the extraordinary transformational potential of the New Markets Tax Credit Program for communities," said Director Gambrell. "This inspirational project also represents the joint efforts of many able partners committed to education and opportunity, such as ExED, Pacific Charter School Development, LA Charter School New Markets Fund, NBC Capital Impact, and the Low Income Investment Fund."</p><p>"Because of the New Markets Tax Credit Program, innovative campuses like Ánimo Watts Charter High School have secured the funding they need to properly educate our kids," said Mayor Villaraigosa. "I cannot imagine a better use of these credits. I sincerely hope that the CDFI Fund continues to support these types of projects when they announce their allocations in the fall."</p><p> <br>Situated adjacent to the 70-acre Earvin "Magic" Johnson Recreation Area, Ánimo Watts Charter High School has 26 classrooms, and will serve over 400 students in grades 9 through 12 this school year. Full capacity will be reached in the 2010 school year, with 560 students in attendance. The $9.1 million in New Markets Tax Credit capital used for the Ánimo Watts Charter High School helped overcome a traditional challenge charter school operators face in securing financing.</p><p> <br>Permitting taxpayers to receive a credit against Federal income taxes for making qualified equity investments in Community Development Entities, the New Markets Tax Credit Program promotes social investment in underserved communities. The CDFI Fund has made 396 awards totaling $21 billion in New Markets Tax Credits since the program’s beginning in 2002. Additionally, $3 billion of New Markets Tax Credit allocation authority was provided to the CDFI Fund through the Recovery Act this year.</p><p>For more information about the CDFI Fund, visit <a href="http://www.cdfifund.gov/">www.cdfifund.gov</a>.</p>2009-09-03T04:00:00ZPress Releases45
Director Gambrell Attends Opening of Recovery Act Financed Charter Schoolhttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=44Director Gambrell Attends Opening of Recovery Act Financed Charter School<p><em>​CDFI Program Award Allows 100 Additional Students to Attend College-Ready Academy High School #7</em></p><p><strong>Los Angeles, CA</strong> - U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) Director Donna J. Gambrell attended today the grand opening of the new campus of College-Ready Academy High School #7. Surrounded by some of the lowest performing schools in the Crenshaw district of Los Angeles, the new high school will give the neighborhood’s students an opportunity for academic achievement and help prepare them for a lifetime of success. Arriving just in time for the beginning of the school year, the financing made possible by the American Recovery and Reinvestment Act of 2009 (Recovery Act) allowed the new high school to add an additional grade level and 100 additional students at its new four-acre site.</p><p>“By promoting investment in underserved communities the Recovery Act awards made by the CDFI Fund are stimulating economic growth and bringing about new opportunities to Americans most in need,” said Director Donna J. Gambrell. “I commend the Low Income Investment Fund for swiftly utilizing their Recovery Act award to finance the College-Ready Academy High School and bring needed jobs and educational resources to this community.”</p><p>One of the primary challenges facing charter school operators is the difficulty of securing financing and finding appropriate facilities. At the end of June 2009, San Francisco-based CDFI, the Low Income Investment Fund (LIIF), received a $2 million financial assistance award from the CDFI Fund made available by the Recovery Act. LIIF used the additional capital to make a $7 million loan to Pacific Charter School Development (PCSD) to support the expansion of the new high school where an additional 100 students can now receive a high quality education.</p><p> "A good education equals earning power. It is central to ensuring a good future for kids and is a key to unlocking poverty," said Nancy O. Andrews, President and CEO of LIIF. "This project would not have been possible without the Recovery Act award LIIF received from the CDFI Fund. We appreciate that Director Gambrell has made it a priority to see the direct impact of the support that the CDFI Fund provides."</p><p>For more information about the CDFI Fund, visit<a> www.cdfifund.gov</a>.</p>2009-09-02T04:00:00ZPress Releases44
CDFI Fund Announces Complete Disbursement of Recovery Act Grants for Community Developmenthttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=43CDFI Fund Announces Complete Disbursement of Recovery Act Grants for Community Development<p>​100 Percent of Program Funds Deployed in Record Time</p><p> <strong>Washington, DC -</strong> U.S. Department of the Treasury’s Community Development Financial Institutions (CDFI Fund) announced today that in record time, and exactly two months after awards were announced for community development grants through the American Recovery and Reinvestment Act (Recovery Act), it completely disbursed all $98 million to 59 Community Development Financial Institutions (CDFIs) and 10 Native CDFIs. These Recovery Act awards were made through the CDFI Program and Native American CDFI Assistance (NACA) Program, and will support new lending that will assist in the economic recovery of some of our nation’s most vulnerable communities at a time when they are facing many financial challenges. These funds will help generate capital for small businesses, mortgage loans for homebuyers, and funding for affordable housing projects and other facilities in communities across the country.</p><p>“Moving quickly to support communities made particularly vulnerable by the economic downturn has been the top priority for the CDFI Fund,” said Director Donna J. Gambrell. “This is a significant accomplishment for the CDFI Fund that was achieved by utilizing new internal business practices that enabled the disbursement of the Recovery Act resources faster than ever before. These financial assistance awards are critical to getting these community-based lenders the capital they need to provide distressed communities they serve with the resources to stimulate local economic recovery.”</p><p>Treasury Secretary Tim Geithner and Director Donna Gambrell announced the financial assistance awards to 59 Community Development Financial Institutions (CDFIs) on June 29th, 2009, and the financial assistance awards to 10 Native CDFIs were announced on July 1st, 2009. In order to expedite the flow of Recovery Act resources, for the first time the legal agreements between the CDFI Fund and the award recipients were ready the same day as the announcement, which served to greatly accelerate the delivery of funds. Today, 100 percent of the $98 million in awards to CDFIs through the Recovery Act have been disbursed.<br>The awards are a part of the Obama Administration’s efforts to invest directly in communities and support community institutions across the country that address a wide variety of economic development issues. These investments are generating capital for first-time homebuyer loans, providing investments in small businesses and microenterprises, and supporting the development of affordable housing and community facilities across the country. Additionally, many of the CDFIs that have received support are engaged in innovative lending to support foreclosure prevention efforts, encouraging entrepreneurs to launch small businesses, expanding bilingual credit unions, and offering alternatives to payday and predatory lenders.</p><p>For a complete list of award recipients and profiles, visit www.cdfifund.gov.</p><h3>CDFI Program - Recovery Act Awards<br><br></h3><table cellspacing="0" cellpadding="0" width="500" class="ms-rteTable-4"><tbody><tr class="ms-rteTableHeaderRow-4"><th colspan="1" rowspan="1" class="ms-rteTableHeaderEvenCol-4">Awardee Name </th><th colspan="1" rowspan="1" class="ms-rteTableHeaderOddCol-4">Location </th><th colspan="1" rowspan="1" class="ms-rteTableHeaderEvenCol-4">Award Amount </th></tr><tr class="ms-rteTableOddRow-4"><td valign="top" class="ms-rteTableEvenCol-4">African Development Center </td><td valign="top" class="ms-rteTableOddCol-4">Minneapolis, MN </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $600,000 </td></tr><tr class="ms-rteTableEvenRow-4"><td valign="top" class="ms-rteTableEvenCol-4"> Albina Community Bancorp </td><td valign="top" class="ms-rteTableOddCol-4"> Portland, OR </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $2,000,000 </td></tr><tr class="ms-rteTableOddRow-4"><td valign="top" class="ms-rteTableEvenCol-4"> Alternatives Federal Credit Union </td><td valign="top" class="ms-rteTableOddCol-4"> Ithaca, NY </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $2,000,000 </td></tr><tr class="ms-rteTableEvenRow-4"><td valign="top" class="ms-rteTableEvenCol-4">ASI Federal Credit Union </td><td valign="top" class="ms-rteTableOddCol-4">Harahan, LA </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $2,000,000 </td></tr><tr class="ms-rteTableOddRow-4"><td valign="top" class="ms-rteTableEvenCol-4">Atlanta Micro Fund </td><td valign="top" class="ms-rteTableOddCol-4">Atlanta, GA</td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $250,000</td></tr><tr class="ms-rteTableEvenRow-4"><td valign="top" class="ms-rteTableEvenCol-4"> BOC Capital Corp. </td><td valign="top" class="ms-rteTableOddCol-4"> Brooklyn, NY </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $600,000 </td></tr><tr class="ms-rteTableOddRow-4"><td valign="top" class="ms-rteTableEvenCol-4"> Bridgeway Capital, Inc. </td><td valign="top" class="ms-rteTableOddCol-4"> Pittsburgh, PA </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $2,000,000 </td></tr><tr class="ms-rteTableEvenRow-4"><td valign="top" class="ms-rteTableEvenCol-4"> Brooklyn Cooperative Federal Credit Union </td><td valign="top" class="ms-rteTableOddCol-4"> Brooklyn, NY </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $1,150,000 </td></tr><tr class="ms-rteTableOddRow-4"><td valign="top" class="ms-rteTableEvenCol-4"> CAMBA Economic Development Corporation </td><td valign="top" class="ms-rteTableOddCol-4"> Brooklyn, NY </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $600,000 </td></tr><tr class="ms-rteTableEvenRow-4"><td valign="top" class="ms-rteTableEvenCol-4">Cape and Islands Community Development, Inc. </td><td valign="top" class="ms-rteTableOddCol-4">Centreville, MA </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $600,000 </td></tr><tr class="ms-rteTableOddRow-4"><td valign="top" class="ms-rteTableEvenCol-4"> Ceiba Housing and Economic Development Corporation </td><td valign="top" class="ms-rteTableOddCol-4"> Ceiba, PR </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $600,000 </td></tr><tr class="ms-rteTableEvenRow-4"><td valign="top" class="ms-rteTableEvenCol-4"> Citizen Potawatomi Community Development Corporation </td><td valign="top" class="ms-rteTableOddCol-4"> Shawnee, OK </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $2,000,000 </td></tr><tr class="ms-rteTableOddRow-4"><td valign="top" class="ms-rteTableEvenCol-4">Coastal Enterprises,Inc. </td><td valign="top" class="ms-rteTableOddCol-4">Wiscasset, ME </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $2,000,000 </td></tr><tr class="ms-rteTableEvenRow-4"><td valign="top" class="ms-rteTableEvenCol-4">Communicating Arts Credit Union </td><td valign="top" class="ms-rteTableOddCol-4">Detroit, MI </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $2,000,000 </td></tr><tr class="ms-rteTableOddRow-4"><td valign="top" class="ms-rteTableEvenCol-4"> Community and Shelter Assistance Corporation </td><td valign="top" class="ms-rteTableOddCol-4"> Newberg, OR </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $2,000,000 </td></tr><tr class="ms-rteTableEvenRow-4"><td valign="top" class="ms-rteTableEvenCol-4">Community Loan Fund of New Jersey, Inc. </td><td valign="top" class="ms-rteTableOddCol-4">Trenton, NJ </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $2,000,000 </td></tr><tr class="ms-rteTableOddRow-4"><td valign="top" class="ms-rteTableEvenCol-4"> Corporation for Supportive Housing </td><td valign="top" class="ms-rteTableOddCol-4"> New York, NY </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $2,000,000 </td></tr><tr class="ms-rteTableEvenRow-4"><td valign="top" class="ms-rteTableEvenCol-4">Eastern Dakota Housing Alliance, Inc. </td><td valign="top" class="ms-rteTableOddCol-4">Fargo, ND </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $600,000 </td></tr><tr class="ms-rteTableOddRow-4"><td valign="top" class="ms-rteTableEvenCol-4"> Economic Opportunities Fund </td><td valign="top" class="ms-rteTableOddCol-4"> Philadelphia, PA </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $600,000 </td></tr><tr class="ms-rteTableEvenRow-4"><td valign="top" class="ms-rteTableEvenCol-4">Federation of Appalachian Housing Enterprises, Inc. </td><td valign="top" class="ms-rteTableOddCol-4">Berea, KY </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $2,000,000 </td></tr><tr class="ms-rteTableOddRow-4"><td valign="top" class="ms-rteTableEvenCol-4">First Legacy Community Credit Union </td><td valign="top" class="ms-rteTableOddCol-4">Charlotte, NC </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $2,000,000 </td></tr><tr class="ms-rteTableEvenRow-4"><td valign="top" class="ms-rteTableEvenCol-4">Fresno Community Development Financial Institution</td><td valign="top" class="ms-rteTableOddCol-4">Fresno, CA</td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $600,000</td></tr><tr class="ms-rteTableOddRow-4"><td valign="top" class="ms-rteTableEvenCol-4"> Home Headquarters, Inc. </td><td valign="top" class="ms-rteTableOddCol-4"> Syracuse, NY </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $2,000,000 </td></tr><tr class="ms-rteTableEvenRow-4"><td valign="top" class="ms-rteTableEvenCol-4">Latino Community Credit Union </td><td valign="top" class="ms-rteTableOddCol-4">Durham, NC </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $2,000,000 </td></tr><tr class="ms-rteTableOddRow-4"><td valign="top" class="ms-rteTableEvenCol-4"> Leviticus 25:23 Alternative Fund, Inc. </td><td valign="top" class="ms-rteTableOddCol-4"> Elmsford, NY </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $2,000,000 </td></tr><tr class="ms-rteTableEvenRow-4"><td valign="top" class="ms-rteTableEvenCol-4">Liberty Financial Services </td><td valign="top" class="ms-rteTableOddCol-4">New Orleans, LA </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $2,000,000 </td></tr><tr class="ms-rteTableOddRow-4"><td valign="top" class="ms-rteTableEvenCol-4">Low Income Investment Fund </td><td valign="top" class="ms-rteTableOddCol-4">San Francisco, CA </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $2,000,000</td></tr><tr class="ms-rteTableEvenRow-4"><td valign="top" class="ms-rteTableEvenCol-4"> Lowcountry Housing Trust </td><td valign="top" class="ms-rteTableOddCol-4"> Charleston, SC </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $600,000 </td></tr><tr class="ms-rteTableOddRow-4"><td valign="top" class="ms-rteTableEvenCol-4">Mendo Lake Credit Union </td><td valign="top" class="ms-rteTableOddCol-4">Ukiah, CA </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $2,000,000</td></tr><tr class="ms-rteTableEvenRow-4"><td valign="top" class="ms-rteTableEvenCol-4">Midwest Housing Development Fund, Inc. </td><td valign="top" class="ms-rteTableOddCol-4">Omaha, NE </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $600,000 </td></tr><tr class="ms-rteTableOddRow-4"><td valign="top" class="ms-rteTableEvenCol-4">Midwest Minnesota Community Development Corporation </td><td valign="top" class="ms-rteTableOddCol-4">Detroit Lakes, MN </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $2,000,000 </td></tr><tr class="ms-rteTableEvenRow-4"><td valign="top" class="ms-rteTableEvenCol-4">Montana Community Development Corporation </td><td valign="top" class="ms-rteTableOddCol-4">Missoula, MT </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $2,000,000 </td></tr><tr class="ms-rteTableOddRow-4"><td valign="top" class="ms-rteTableEvenCol-4">Montana Homeownership Network </td><td valign="top" class="ms-rteTableOddCol-4"> Great Falls, MT </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $600,000 </td></tr><tr class="ms-rteTableEvenRow-4"><td valign="top" class="ms-rteTableEvenCol-4">Mountain Association for Community Economic Development, Inc. </td><td valign="top" class="ms-rteTableOddCol-4">Berea, KY </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $2,000,000 </td></tr><tr class="ms-rteTableOddRow-4"><td valign="top" class="ms-rteTableEvenCol-4">National Community Investment Fund </td><td valign="top" class="ms-rteTableOddCol-4">Chicago, IL </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $2,000,000 </td></tr><tr class="ms-rteTableEvenRow-4"><td valign="top" class="ms-rteTableEvenCol-4"> Natural Capital Investment Fund, Inc. </td><td valign="top" class="ms-rteTableOddCol-4"> Shepherdstown, WV </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $600,000 </td></tr><tr class="ms-rteTableOddRow-4"><td valign="top" class="ms-rteTableEvenCol-4">New Hampshire Community Loan Fund, Inc. </td><td valign="top" class="ms-rteTableOddCol-4">Concord, NH </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $2,000,000 </td></tr><tr class="ms-rteTableEvenRow-4"><td valign="top" class="ms-rteTableEvenCol-4"> New Mexico Community Capital </td><td valign="top" class="ms-rteTableOddCol-4"> Bernalillo, NM </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $600,000 </td></tr><tr class="ms-rteTableOddRow-4"><td valign="top" class="ms-rteTableEvenCol-4"> Nonprofit Finance Fund </td><td valign="top" class="ms-rteTableOddCol-4"> New York, NY </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $1,900,000 </td></tr><tr class="ms-rteTableEvenRow-4"><td valign="top" class="ms-rteTableEvenCol-4">Northern California Community Loan Fund </td><td valign="top" class="ms-rteTableOddCol-4">San Francisco, CA</td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $2,000,000</td></tr><tr class="ms-rteTableOddRow-4"><td valign="top" class="ms-rteTableEvenCol-4">Northland Foundation </td><td valign="top" class="ms-rteTableOddCol-4">Duluth, MN </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $2,000,000 </td></tr><tr class="ms-rteTableEvenRow-4"><td valign="top" class="ms-rteTableEvenCol-4"> Northside Community Development Fund </td><td valign="top" class="ms-rteTableOddCol-4"> Pittsburgh, PA </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $600,000 </td></tr><tr class="ms-rteTableOddRow-4"><td valign="top" class="ms-rteTableEvenCol-4"> Opportunities Credit Union </td><td valign="top" class="ms-rteTableOddCol-4"> Burlington, VT </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $2,000,000 </td></tr><tr class="ms-rteTableEvenRow-4"><td valign="top" class="ms-rteTableEvenCol-4"> Opportunity Finance Network </td><td valign="top" class="ms-rteTableOddCol-4"> Philadelphia, PA </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $2,000,000 </td></tr><tr class="ms-rteTableOddRow-4"><td valign="top" class="ms-rteTableEvenCol-4">Opportunity Fund</td><td valign="top" class="ms-rteTableOddCol-4">San Jose, CA</td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $2,000,000</td></tr><tr class="ms-rteTableEvenRow-4"><td valign="top" class="ms-rteTableEvenCol-4"> Primary Care Development Corporation </td><td valign="top" class="ms-rteTableOddCol-4"> New York, NY </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $2,000,000 </td></tr><tr class="ms-rteTableOddRow-4"><td valign="top" class="ms-rteTableEvenCol-4"> Progress Fund, The </td><td valign="top" class="ms-rteTableOddCol-4"> Greensburg, PA </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $2,000,000 </td></tr><tr class="ms-rteTableEvenRow-4"><td valign="top" class="ms-rteTableEvenCol-4"> Reinvestment Fund, Inc.,The </td><td valign="top" class="ms-rteTableOddCol-4"> Philadelphia, PA </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $2,000,000 </td></tr><tr class="ms-rteTableOddRow-4"><td valign="top" class="ms-rteTableEvenCol-4">Rural Community Assistance Corporation </td><td valign="top" class="ms-rteTableOddCol-4">West Sacramento, CA</td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $2,000,000</td></tr><tr class="ms-rteTableEvenRow-4"><td valign="top" class="ms-rteTableEvenCol-4"> Rutland West Neighborhood Housing Services, Inc. </td><td valign="top" class="ms-rteTableOddCol-4"> West Rutland, VT </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $2,000,000 </td></tr><tr class="ms-rteTableOddRow-4"><td valign="top" class="ms-rteTableEvenCol-4">Santa Cruz Community Credit Union </td><td valign="top" class="ms-rteTableOddCol-4">Santa Cruz, CA</td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $2,000,000</td></tr><tr class="ms-rteTableEvenRow-4"><td valign="top" class="ms-rteTableEvenCol-4"> Seedco Financial Services </td><td valign="top" class="ms-rteTableOddCol-4"> New York, NY </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $2,000,000 </td></tr><tr class="ms-rteTableOddRow-4"><td valign="top" class="ms-rteTableEvenCol-4"> Southeast Community Capital Corporation </td><td valign="top" class="ms-rteTableOddCol-4"> Nashville, TN </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $2,000,000 </td></tr><tr class="ms-rteTableEvenRow-4"><td valign="top" class="ms-rteTableEvenCol-4">Southwest Georgia United Empowerment Zone, Inc. </td><td valign="top" class="ms-rteTableOddCol-4">Vienna, GA </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $600,000</td></tr><tr class="ms-rteTableOddRow-4"><td valign="top" class="ms-rteTableEvenCol-4">Springfield Neighborhood Housing Services, Inc. </td><td valign="top" class="ms-rteTableOddCol-4">Springfield, MA </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $600,000 </td></tr><tr class="ms-rteTableEvenRow-4"><td valign="top" class="ms-rteTableEvenCol-4">The Housing Partnership Network, Inc. </td><td valign="top" class="ms-rteTableOddCol-4">Boston, MA </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $2,000,000 </td></tr><tr class="ms-rteTableOddRow-4"><td valign="top" class="ms-rteTableEvenCol-4"> Utah Microenterprise Loan Fund </td><td valign="top" class="ms-rteTableOddCol-4"> Salt Lake City, UT </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $500,000 </td></tr><tr class="ms-rteTableEvenRow-4"><td valign="top" class="ms-rteTableEvenCol-4"> Vermont Community Loan Fund, Inc. </td><td valign="top" class="ms-rteTableOddCol-4"> Montpelier, VT </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $2,000,000 </td></tr><tr class="ms-rteTableOddRow-4"><td valign="top" class="ms-rteTableEvenCol-4">Western Massachusetts Enterprise Fund, Inc. </td><td valign="top" class="ms-rteTableOddCol-4">Holyoke, MA </td><td align="right" valign="top" class="ms-rteTableEvenCol-4"> $600,000 </td></tr></tbody></table> <br> <br> <h3>NACA Program - Recovery Act Awards<br><br></h3><table cellspacing="0" cellpadding="0" width="500" class="ms-rteTable-4"><tbody><tr class="ms-rteTableHeaderRow-4"><th colspan="1" rowspan="1" class="ms-rteTableHeaderEvenCol-4">Awardee Name </th><th colspan="1" rowspan="1" class="ms-rteTableHeaderOddCol-4">Location </th><th colspan="1" rowspan="1" class="ms-rteTableHeaderEvenCol-4">Award Amount </th></tr><tr class="ms-rteTableOddRow-4"><td valign="top" class="ms-rteTableEvenCol-4">Bank of Cherokee County, Inc. </td><td valign="top" class="ms-rteTableOddCol-4">Tahlequah, OK </td><td valign="top" class="ms-rteTableEvenCol-4">$796,522 </td></tr><tr class="ms-rteTableEvenRow-4"><td valign="top" class="ms-rteTableEvenCol-4">First Nations Oweesta Corporation </td><td valign="top" class="ms-rteTableOddCol-4">Rapid City, SD </td><td valign="top" class="ms-rteTableEvenCol-4">$873,600 </td></tr><tr class="ms-rteTableOddRow-4"><td valign="top" class="ms-rteTableEvenCol-4">Four Directions Development Corporation </td><td valign="top" class="ms-rteTableOddCol-4">Orono, ME </td><td valign="top" class="ms-rteTableEvenCol-4">$877,550 </td></tr><tr class="ms-rteTableEvenRow-4"><td valign="top" class="ms-rteTableEvenCol-4">Hopi Credit Association </td><td valign="top" class="ms-rteTableOddCol-4">Keams Canyon, AZ </td><td valign="top" class="ms-rteTableEvenCol-4">$789,949 </td></tr><tr class="ms-rteTableOddRow-4"><td valign="top" class="ms-rteTableEvenCol-4">Lakota Funds, The </td><td valign="top" class="ms-rteTableOddCol-4">Kyle, SD </td><td valign="top" class="ms-rteTableEvenCol-4">$876,060 </td></tr><tr class="ms-rteTableEvenRow-4"><td valign="top" class="ms-rteTableEvenCol-4">Lummi Community Development Financial Institution </td><td valign="top" class="ms-rteTableOddCol-4">Bellingham, WA </td><td valign="top" class="ms-rteTableEvenCol-4">$596,378 </td></tr><tr class="ms-rteTableOddRow-4"><td valign="top" class="ms-rteTableEvenCol-4">Mazaska Owecaso Otipi Financial, Inc </td><td valign="top" class="ms-rteTableOddCol-4">Pine Ridge, SD </td><td valign="top" class="ms-rteTableEvenCol-4">$870,153 </td></tr><tr class="ms-rteTableEvenRow-4"><td valign="top" class="ms-rteTableEvenCol-4">Salt River Financial Services Institution </td><td valign="top" class="ms-rteTableOddCol-4">Scottsdale, AZ </td><td valign="top" class="ms-rteTableEvenCol-4">$869,786 </td></tr><tr class="ms-rteTableOddRow-4"><td valign="top" class="ms-rteTableEvenCol-4">White Earth Investment Initiative </td><td valign="top" class="ms-rteTableOddCol-4">Ogema, MN </td><td valign="top" class="ms-rteTableEvenCol-4">$590,000 </td></tr><tr class="ms-rteTableEvenRow-4"><td valign="top" class="ms-rteTableEvenCol-4">Wind River Development Fund </td><td valign="top" class="ms-rteTableOddCol-4">Fort Washakie, WY </td><td valign="top" class="ms-rteTableEvenCol-4">$860,002</td></tr></tbody></table>2009-09-01T04:00:00ZPress Releases43

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