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Saturday, October 25, 2014

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Cascade: No. 59, Fall 2005

District News

Wachovia Corporation is designating a substantial portion of its allocation of federal new markets tax credits (NMTC) for redevelopment in the Gulf Coast region in response to the destruction caused by Hurricane Katrina. Wachovia is setting aside $30 million of its current $90 million third-round NMTC allocation for redevelopment in Louisiana, Alabama, Mississippi, and Florida.

Gloria Guard, president of People’s Emergency Center (PEC) and executive director of People’s Emergency Center Community Development Corporation, has received the 2005 Philadelphia Award, which is presented annually to a resident of the Philadelphia region who during the preceding year has acted and served on behalf of the best interests of the community. Guard has been president for 23 years of PEC, a comprehensive social service agency for homeless women, teenagers, and their children. She is at gguard@pec-cares.org.

Karen L. Whitehill has been promoted to senior vice president, CRA officer, and real estate services manager at Keystone Nazareth Bank and Trust Company in Bethlehem , PA. She has managed the bank’s retail lending division for the past 10 years and has been involved in CRA activities for more than 15 years. She is at karen.whitehill@knbt.com.

Lynn C. Buchanan, previously vice president of community development and CRA officer at Wilmington Savings Fund Society, FSB, has become vice president and director of marketing at the Delaware Community Investment Corporation. In her new position, she is responsible for financial analysis and underwriting loan requests, business development, and marketing. She is at lynncbuchanan@comcast.net.

The National Foundation for Credit Counseling (NFCC) said that its members expect to provide more than twice as many counseling sessions as previously in the next 12 months as a result of the new federal bankruptcy law. NFCC said that all of its 115 member agencies plan to seek government approval to provide bankruptcy-related counseling and education services in conjunction with the new law. It added that to meet the increased demand NFCC agencies must expand their infrastructure, develop new course materials, and hire and train more than 1,050 additional financial counselors.

Community First Fund (CFF) has received awards from the U.S. Small Business Administration and the Commonwealth of Pennsylvania for its small-business lending. CFF, which is based in Lancaster, PA, plans to open a new office in Chester County.

NCALL Research, Inc., in Dover, DE, has provided homeownership counseling in group and individual sessions to 5,000 Delawareans who have become homeowners.

YWCA Delaware celebrated the fact that 3,000 buyers bought houses during the past 10 years with assistance from the nonprofit’s homeownership education program.

DataPlace, part of Fannie Mae Foundation’s KnowledgePlex ®, provides extensive housing and demographic data at www.dataplace.org.

A Federal Reserve Fiscal Impact Tool (FIT) estimates the effect of proposed economic development projects on local sales and property tax revenues and on costs to local government. FIT, an automated process in the form of an Excel workbook, is intended for use by economic and community development professionals, primarily in small and mid-size communities. For information, go to www.federalreserve.gov/community.htm and click on fiscal impact tool.

An article by Judith Rodin, president of the Rockefeller Foundation and past president of the University of Pennsylvania, entitled “The 21st Century Urban University: New Roles for Practice and Research,” appeared in the summer 2005 issue of the Journal of the American Planning Association…Smart growth advocates can sign up for a newsletter containing news around the country and obtain resources and publications through Smart Growth America’s web site at www.smartgrowthamerica.org.

FDIC Consumer News’ guide to money management for young adults may be found at www.fdic.gov/consumers/consumer/news.