NeighborWorks Columbus Receives $1.5 Million Financial Assistance Grant From The U.S. Department of Treasury’s CDFI Fund
Columbus, GA, (October 13, 2015)– NeighborWorks Columbus and Community Development Financial Institution (CDFI), has been awarded a $1.5 million Financial Assistance (FA) grant from the U.S. Department of Treasury’s CDFI Fund.
The grant will help NeighborWorks continue to expand its Columbus Cottage Program which must be matched 1:1. The organization will launch its annual giving campaign in early November to raise $1 million to provide housing for those most at risk.
“This lending capital will allow us to continue to eliminate substandard housing for low income seniors in our community,” said Cathy Williams, President and CEO of NeighborWorks Columbus. “We are excited to expand the program to help 50, or more, seniors now living in substandard housing. Using our fund and their limited incomes, we can achieve this.”
The CDFI Fund awarded $202 million in grants and loans to 195 Community Development Financial Institutions (CDFIs) through the Community Development Financial Institutions Program (CDFI Program) and the Native American CDFI Assistance Program (NACA Program). This announcement caps the 20th anniversary celebration of the creation of the CDFI Fund and the CDFI Program.
“Today’s awards highlight how much the CDFI Program has contributed in its 20 year history towards building a strong network of CDFIs across the country,” said CDFI Fund Director Annie Donovan. “These important community partners are not only on the frontlines of economically distressed communities providing needed capital and credit, they are building a more inclusive economy which benefits the nations as a whole.”
NeighborWorks® Columbus’, a community-based 501c (3) nonprofit organization, mission is to provide access to fit and affordable housing for all citizens of low to moderate income. NeighborWorks® Columbus’ vision and deep commitment remains to improve the quality of life through the elimination of substandard housing and the revitalization of target neighborhoods.
About the CDFI Fund
The CDFI Fund was created for the purpose of promoting economic revitalization and community development through investment in and assistance to community development financial institutions (CDFIs). The CDFI Fund was established by the Riegle Community Development and Regulatory Improvement Act of 1994. Since its creation the Fund has awarded $2 billion to community development organizations and financial institutions.
About the Columbus Cottage Program
The Columbus Cottage Program is a public/private partnership made possible with philanthropic support from local foundations, organizations and community support. Started in 2008, NeighborWorks® Columbus, Columbus Consolidated Government and local community leaders, sought to eliminate substandard housing for impoverished elderly citizens. Since then, seven cottages have been built for well indigent seniors.
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