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RCAC funders help strengthen rural communities
LOAN FUND NEWS
By Sharon Wills, RCAC PR communications coordinator
RCAC appreciates the funders who share in its mission and place their trust in the organization. Foundations, corporations, government entities and other nonprofit organizations support RCAC’s work through contributions, investments and fee-for-service contracts. Thanks to their support, RCAC helps create opportunities in rural America.
RCAC recently received funds from the sources below for the following projects:
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California Dept of Community Services and Development
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To provide services under the Community Services Block Grant program to assist low-income people
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Housing Assistance Council
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To provide 502 loan packaging training
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ICF International
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For neighborhood stabilization program assessment in the Northern Marianas Islands
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Lower Rio Grande (LRG) Mutual Domestic Water Association
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For governance, merger and strategic plans for LRG
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Mentasta Traditional Council (MTC)
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To assist MTC implement a recently approved 2009 Indian Community Development Block Grant Program and Department of Energy – Energy Efficiency and Conservation Block Grant
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NeighborWorks America
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To conduct a 502 training in Phoenix, Arizona
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NeighborWorks America
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For support for 502 loan packaging
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Opportunity Finance Network (OFN)
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To provide logistic support for the OFN 2010 conference
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Pural Water Specialty
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To deliver electrical safety class
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Tanacross Village Council
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For capacity building
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U.S. Bank
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To support the Monterey Housing Collaborative and assist Community Housing Improvement Systems and Planning Association to become a U.S. Department of Housing and Urban Development approved housing counseling agency
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Urban Land Institute
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To provide technical assistance to Hawaii Housing Finance and Development Corporation and support the development of the Buyer-Driven Homeownership, 1 – 4 Unit Scattered Site Toolkit (led by Neighborhood Housing Services of America)
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USDA-Rural Development
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For 502 loan document review for borrowers in New Mexico and Arizona
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From October 1 to June 30, RCAC closed 30 loans, which totaled more than $21.5 million that leveraged more than $52 million for projects in rural communities. These loans supported 6,995 individual water and wastewater connections for rural citizens, 345 housing units and 205,575 square feet of community facility space. Supporters who recently renewed, increased or placed new investments in RCAC’s loan fund include:
- Catholic Healthcare West
- Charles Schwab Bank
- Morgan Stanley Bank
- Pacific Rim Bank
- Trinity Health
RCAC's work encompasses a wide range of services including technical assistance and training for environmental infrastructure and affordable housing development, economic and leadership development; and community development finance. These services are available to a variety of communities and organizations including communities with populations of fewer than 50,000, other nonprofit groups and tribal organizations.
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