Direct Community Investment Program Announces New Investments
CHI's Direct Community Investments Program, which provides low-interest loans to organizations that give disadvantaged populations with access to jobs, housing, education and health care, recently made two new investments.
A low-interest $250,000 loan to Rural Community Assistance Corporation, Sacramento, CA, will provide loans for small, low-income rural communities to improve the availability of low-income housing; water, wastewater and solid waste treatment infrastructure; and community facilities. Lending is targeted to communities with populations of 50,000 or less in the western U.S.
A low-interest loan of $100,000 to Community Development Capital of New Orleans, LA, will bring affordable capital, technical assistance and construction management to developers. The loans will help address key development and credit obstacles that continue to hinder the region's recovery after the devastation caused by Hurricanes Katrina and Rita in 2005; pre-hurricane trends of disinvestment in rural and low-income communities; and the 2010 BP oil spill.