Membership Newsletter July 2012 | NCRC Provides Customized Support to Help Alabama Member Expand
NCRC recently had an opportunity to help a new member, Alabama A&M University Community Development Corporation (AAMU CDC). AAMU CDC’s mission is to revitalize low-income neighborhoods surrounding Alabama A&M University, Meadow Hills and Edmonton Heights, with expansion to Huntsville planned. In these neighborhoods 30% of the homes were dilapidated and many of these were abandoned. Since this time, AAMU CDC has been restoring homes in these neighborhoods and selling many of them to first-time home buyers.
One of AAMU CDC’s projects targeting Huntsville involves the first commercial development in the area in over 20 years. To support this work, AAMU CDC is setting up a revolving loan fund and becoming a Community Development Entity (CDE) to gain access to Community Economic Development grants. AAMU CDC Executive Director Joseph Lee reached out his NCRC Regional Organizer, Ramon Bullard, asking for technical advice and assistance with this work. Ramon connected Joseph with NCRC’s Community Development Fund manager, Dan Soliman.
During a conference call with Dan and Ramon, Joseph discussed AAMU CDC’s past work and strategy to expand its scope of service. NCRC staff was able to provide advice on relevant grants to pursue and the process involved in setting up a revolving loan fund. Dan will maintain an advisory relationship and will continue to offer strategic support to AAMU CDC in the future.
“The opportunity NCRC provided to have a person with great expertise in the area of new market tax credits speak with me… was a blessing,” reported Joseph.
NCRC member organizations are engaged in work across the country to rebuild and revitalize low- and moderate-income neighborhoods. Contact your NCRC Regional Organizer for technical assistance and support today.
