For Immediate Release
Contact: L. Von Kuhen, 631-471-1215 x149, lkuhen@cdcli.org
Community Development Corporation of Long Island Receives $200,000
Grant from Bank of America Charitable Foundation
November 13, 2009, Centereach, New York — Today Community Development Corporation of Long Island, (CDC of Long Island) announced that it received $200,000 in unrestricted funding from Bank of America Charitable Foundation under its Neighborhood Excellence Initiative®, and was thereby named a Neighborhood Builder®. The funds will support CDC of Long Island’s NeighborWorks® HomeOwnership Centers’ integrated pre- and post-purchase programs and services, which help Long Islanders retain assets and wealth.
In 2009, Bank of America Charitable Foundation provided $20 million in grants to strengthen communities across the country, which include addressing critical community needs, such as attaining and sustaining affordable homeownership.
The need for CDC of Long Island’s programs and services has never been greater. With regional foreclosure rates at unprecedented new levels, home values in decline, and the unemployment rate rising rapidly, Long Islanders are increasingly susceptible to, and affected by, the economic crisis.
“This grant will support CDC’s housing-related programs and services, which are more important than ever to helping Long Islanders attain and maintain long-term affordable homeownership,” said Marianne Garvin, CDC of Long Island President & CEO.
“Everyday, CDC of Long Island works to make a difference in the lives of Long Islanders. Our pre-purchase, post-purchase, and foreclosure preservation programs help clients establish healthy homeownership practices. We understand the challenges facing Long Islanders and our community and we are ideally positioned to find and implement solutions that have long-lasting, positive impacts,” said Marianne Garvin, CDC of Long Island President & CEO.
“Bank of America is supporting the Long Island community through the Neighborhood Excellence Initiative® and other lending, investing and community development programs that address critical social issues and align with our corporate social responsibility efforts,” said Robert Isaksen, Long Island market president at Bank of America. “In our current economy, communities need our support more than ever, and this program is designed to give that support through the effective combination of partnership, leadership development and flexible funding.”
About CDC of Long Island
Community Development Corporation of Long Island is a not-for-profit organization whose mission is to extend participation in Long Island’s version of “The American Dream” to people whose circumstances have precluded that participation. Since 1969, CDC of Long Island has been assisting families and small businesses with services that support housing and economic development.
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