WASHINGTON, DC – August 27, 2008 – (RealEstateRama) — Senator Hillary Rodham Clinton today welcomed the announcement of three awards of $1,000,000 from the U.S. Treasury Department’s Community Development Financial Institutions (CDFI) Program for three CDFIs in New York City. The CDFI Program invests in and builds the capacity of existing private, for-profit and nonprofit community-based lending organizations known as Community Development Financial Institutions that serve rural and urban low-income people and communities across the nation that lack adequate access to affordable financial products and services.
“This is great news for New York and for communities across the country. The CDFI Program helps these organizations carry out their important missions of delivering financial assistance, expanding healthcare resources, and strengthening economic development programs to our most vulnerable citizens and underserved communities. This funding will help CDFIs continue to carry out their important work,” said Senator Clinton.
The CDFI Program has awarded $1,000,000 to each of the following New York-based CDFIs:
- Primary Care Development Corporation (PCDC) — PCDC aims to expand and enhance primary and preventive healthcare in underserved communities by delivering programs that enable healthcare organizations to develop state-of-the-art facilities and adopt the best primary and preventive care practices, promoting public policies that pave the way to efficient, high-quality services, and working in partnership with a wide variety of organizations committed to the healthcare needs of underserved communities.
- Corporation for Supportive Housing (CSH) — CSH helps communities create permanent housing with services to prevent and end homelessness by providing advice and development expertise, by making loans and grants to supportive housing sponsors, by strengthening the supportive housing industry, and by pushing to reform public policy to make it easier to create and operate supportive housing.
- National Federation of Community Development Credit Unions (NFCDCU) — The NFCDCU aims to help low- and moderate-income people and communities achieve financial independence through credit unions by encouraging and empowering member credit unions to achieve effective, community-controlled economic development; working nationally to assure that the evolving financial system responds to the needs of low-income communities, and that CDCUs have the tools and resources to meet emerging challenges; and striving to assure that the CDCU movement is both permanent and self-sufficient, by developing local and national CDCU leadership, providing forums for communication among CDCUs, and developing the resources necessary to achieve their goals.
