Annual Awards Luncheon Recognizes Excellence in Community Economic Development.Business Editors LOS ANGELES--(BUSINESS WIRE)--Oct. 29, 2001 Federal Reserve Bank of San Francisco The Federal Reserve Bank of San Francisco is the federal bank for the twelfth district in the United States. The twelfth district is made up of nine western states—Alaska, Arizona, California, Hawaii, Idaho, Nevada, Oregon, Utah, and Washington—plus American Samoa, Honored for Outstanding Leadership and Innovation in Community Economic Development The California Economic Development Lending Initiative (CEDLI CEDLI California Economic Development Lending Initiative ), a statewide, multi-bank community development corporation, today announced the recipients of their Fourth Annual Awards for Excellence in Community Economic Development. The awards will be presented at a ceremony on October 29, 2001 at the Biltmore Hotel in Los Angeles, and is co-sponsored by California Resources and Training (CARAT). A nonprofit organization Nonprofit Organization An association that is given tax-free status. Donations to a non-profit organization are often tax deductible as well. Notes: Examples of non-profit organizations are charities, hospitals and schools. , CARAT is a statewide economic development initiative designed to enhance community economic development in California. CARAT provides capacity building services and resource development for business assistance providers in California. The Federal Reserve Bank of San Francisco (FRBSF FRBSF Federal Reserve Bank of San Francisco (California) ) will be recognized for providing Outstanding Leadership and Innovation in Community Economic Development. The FRBSF's Community Affairs initiatives throughout the nine western states assist in the creation of investment vehicles that benefit low- and moderate-income families and communities, help increase access to credit in Indian Country through Sovereign Lending task forces, and facilitate the creation of innovative community reinvestment strategies through CRA See Community Reinvestment Act. Roundtables and Leadership Councils. Also receiving awards of recognition for Outstanding Performance in Community Development Lending are Washington Mutual, Comerica Bank-California, Community Bank, CDC See Control Data, century date change and Back Orifice. CDC - Control Data Corporation Small Business Finance and John G. Putnam. All of these financial institutions and individuals have played a leading role in CEDLI's Co-Lending Program for Small Businesses which has provided over $170 million in capital to small businesses throughout California and helped create over 1,600 new jobs. Other awards honoring contributions to Community Economic Development and Revitalization will be presented to small businesses and community organizations in these categories: International Metal Works, Inc., under the CEDLI Co-Lending Program; McAlister Institute Treatment and Education, Inc., under the CEDLI Direct Real Estate Loan Program; California Institute of Health and Social Services, Inc., under the CEDLI Child Care Facility Financing Program; and, California Coastal Rural Development Corporation under the CEDLI Loans to Lenders Program. Co-sponsors of this year's awards luncheon are Cal Fed Bank, Comerica Bank-California, Union Bank of California Union Bank of California is one of the 30 largest commercial banks in the United States. It has 327 branches, the majority of which are in San Diego, Los Angeles and Orange Counties. , Washington Mutual, Wells Fargo, California Statewide CDC, City National Bank, TMC TMC Technology Marketing Corporation (Norwalk, Connecticut) TMC Texas Medical Center (Houston, TX) TMC Traffic Message Channel TMC The Movie Channel TMC Traffic Management Center Development, United California Bank, California Commerce Bank, Community Bank, San Diego National Bank and Southern California Edison Southern California Edison (or SCE Corp), the largest subsidiary of Edison International (NYSE: EIX), is the primary electricity supply company for much of Southern California. It provides 11 million people with electricity. . Started in Oakland, Calif., CEDLI was established in July 1995 to offer loans to small business and community development organizations throughout California. In 1999 CEDLI established a Southern California division with offices in Los Angeles and this year, opened a third office in Chico, Calif., to service the rural communities of California. This statewide, community development corporation includes investors from many of California's financial institutions, insurance companies and corporations. For more information on this annual event, contact George Williamson at 510/267-8997. |
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