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The Tribe is a partner in the Community Economic Development Fund, a revolving loan program that will help regional small businesses create jobs. The tribe is the first and only non-bank investor in such a program in Connecticut. In 2012, the Tribe hosted the annual U.S. Sustainable and Responsible Investing conference.
Economic development has existed even at a basic level since the earliest recorded communities. However, in the US and several other countries, the concept of community economic development emerged "in response to tenacious poverty and the need for affordable housing, good jobs, affordable health care and quality of life matters needed for human existence."
The Office of Community Services (OCS) is a division of the US Executive Branch under the Administration for Children and Families within the Department of Health and Human Services. [ 1 ] : 79 It is the direct successor of the Office of Economic Opportunity , an independent agency created in 1964.
A government corporation owned by the United States Department of the Treasury, it was established through the Riegle Community Development and Regulatory Improvement Act of 1994. [1] Financial institutions, which may include banks , credit unions , loan funds, and community development venture capital funds, can apply to the CDFI Fund for ...
In 1964, the U.S. poverty rate (income-based) included 19 percent of Americans. Rising political forces demanded change. Under a new White House Office of Economic Opportunity (OEO), the concept of the federally-funded, local Community Action Program (CAP)—delivered by a local Community Action Agency (CAA), in a nationwide Community Action Network—would become the primary vehicle for a new ...
The Department was created by the Community and Economic Development Enhancement Act (Act of Jun. 27, 1996, P.L. 403, No. 58), merging the Departments of Commerce and of Community Affairs. The incumbent Secretary of Commerce, Thomas B. Hagen, became the first Secretary of the new department.
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The CDFI Fund and the legal concept of CDFIs were established by the Riegle Community Development and Regulatory Improvement Act of 1994. Broadly speaking, a CDFI is defined as a financial institution that: has a primary mission of community development , serves a target market, is a financing entity, provides development services, remains ...