Finance leaders win CDFI Excellence Awards

Real Estate Weekly, Nov 9, 2005

Four community development finance leaders from across the U.S.--including two in the NYC area--are being recognized this week with the sixth annual Wachovia CDFI Excellence Awards Presented by the National Community Capital Association.

Honored for their outstanding efforts to provide jobs, affordable housing and vitally needed community facilities in "communities of opportunity" across America, the 2005 recipients of the Award are: Leviticus Alternative Fund, Yonkers, NY for Advocacy; Seedco, New York, NY, for Community Impact; Low Income Investment Fund, San Francisco, CA, for Financing; and New Hampshire Community Loan Fund, Concord, NH, for Innovation.

The Wachovia CDFI Excellence Awards presented by the National Community Capital Association focus attention on those leaders in the field of community development who have demonstrated excellence in their efforts to service communities of opportunity.

The Wachovia CDFI Excellence Awards Presented by the National Community Capital Association salute outstanding efforts in the following areas: Advocacy, Community Impact, Financing, and Innovation.

"These four organizations exemplify outstanding work that community development financial institutions are doing all across the country--in emerging urban, rural and reservation-based markets," said NCCA President Mark Pinsky.

"We congratulate them for contributing so much to their communities and to the future of our industry. They are great leaders and great examples."

"We're proud to sponsor these awards, which recognize the important role that CDFIs play in making our communities stronger," said Wachovia Director of Community Relations Mike Rizer.

Yonkers-based Leviticus Alternative Fund provides financing for affordable housing, child care centers, and other community facilities in New York, New Jersey, and Connecticut. Leviticus was awarded the CDFI Excellence Award for Advocacy due to its tireless leadership in advocating for issues of concern to the CDFI industry.

In 2005, they were instrumental in organizing support among the New York State delegation in the House of Representatives to support restoring funding for the CDFI Fund.

With offices in Manhattan, Seedco (the Structured Employment Economic Development Corporation) is a national community development operating intermediary that creates opportunities for low-wage workers and their families through workforce development, small businesses assistance, and asset building promotion for residents and businesses in economically distressed communities.

Seedco won the CDFI Excellence Award for Community Impact for its work in integrating small business lending and workforce development first in response to 9-11 in Lower Manhattan and now in their Neighborhood Economies Initiative in New York City, Memphis, and Alabama.