|
|
C'reach nonprofit testifies in D.C.
|
The Centereach-based Community Development Corporation of Long Island has been helping residents improve their homes and businesses for nearly 40 years. And now, thanks to an increase in funding from the federal government's stimulus funds, the nonprofit organization may ramp up its mission of helping people achieve self-sufficiency and success even more.
According to CDC President and Chief Executive Officer Marianne Garvin, the corporation's annual stipend of $2.8 million has grown to $15.3 million due to increased funding from Washington. Garvin, promoted to CEO less than two months ago, said the money will be used to make 2,153 housing units across Long Island more energy-efficient through the Weatherization and Housing Rehabilitation program, which provides at no charge measures to lower annual energy costs by at least 25 percent.
The CDC also aids small businesses with technical assistance and loan capital, said Garvin, who recently traveled to Washington to testify before the U.S. Senate Committee on Small Business and Entrepreneurship. The CDC has been providing small business loans and training for 13 years, and has thus far supplied 562 loans to Long Island businesses, totaling more than $15.8 million, according to CDC officials.
Garvin testified on the urgent needs of small businesses in today's economy and the importance of continuing to provide business training, technical assistance and alternative finance with federal government support.
Additional funding under the federal Neighborhood Stabilization Program has also allowed the CDC to designate $4.6 million to purchase and rehabilitate foreclosed homes and offer them for rent or sale to working families and first-time home buyers, said Garvin. So far, the organization has been able to "purchase, rehab and resell" 30 houses in Suffolk County and 15 in Nassau County.
"We have the most dedicated employees and board of directors who believe in the mission of the corporation to make Long Island a better place to live for families, seniors and small businesses," said Garvin, a Stony Brook resident who has been with the CDC since 1992. "Our belief is summed up in the words 'we invest in your dreams,' and we do everything that we can to make the dreams of Long Islanders a reality."
To provide the best education possible for healthy and sustainable home ownership, the CDC provides two home ownership centers, in Centereach and Freeport, where information about financial aid and training are available, according to Garvin. There, thousands of residents in fear of losing their homes have received prevention counseling to avoid foreclosure. "If you're finding that you're having difficulty making your mortgage payments, don't wait," the CEO advised. "Get in touch with us and we will work with you. The sooner you reach out for help, the better the chances are for a positive solution."
Furthermore, the CDC also aids small businesses with technical assistance and loan capital, said Garvin, who recently traveled to Washington to testify before the U.S. Senate Committee on Small Business and Entrepreneurship. The organization, which has been providing small business loans and training for 13 years, has thus far supplied 562 loans to Long Island businesses, totaling more than $15.8 million, according to CDC officials. Garvin testified on the urgent needs of small businesses in today's economy and the importance of continuing to provide business training, technical assistance and alternative finance with federal government support.
In addition to providing housing development programs and rental assistance, Garvin said the CDC will continue to seek affordable housing opportunities which are "critical to keep the Island a viable, vibrant place for young people and seniors to live." The president also stressed that Long Island residents can access these services at no charge and receive help from experts who "understand their situation" and will work to achieve the "best possible outcome for the family."
For more information, visit CDC's website at www.cdcli.org.
| |
|
|
|
| |
Copyright 2010
(631) 751-7744 | news@tbrnewspapers.com | www.northshoreoflongisland.com | About |
|
| |
|
