Barrett, Officials from Fannie Mae and City, Discuss Investment Opportunities in Milwaukee Neighborhoods.MILWAUKEE--(BUSINESS WIRE)--July 14, 1998-- Tour of Neighborhoods Starts Dialogue on Revitalization re·vi·tal·ize tr.v. re·vi·tal·ized, re·vi·tal·iz·ing, re·vi·tal·iz·es To impart new life or vigor to: plans to revitalize inner-city neighborhoods; tried to revitalize a flagging economy. Congressman Tom Barrett Notable people with the name Tom Barrett include:
See: New York Stock Exchange :FNM FNM Faith No More (band) FNM Fábrica Nacional de Motores (Brazilian truck/motor company)) FNM Free National Movement (Bahamas) FNM Foot and Mouth ), the nation's largest source of home mortgage funds, on a tour of Milwaukee neighborhoods that could benefit from a lending or investment initiative designed to increase home ownership in the neighborhoods. Barrett initiated the tour after a March 1998 meeting with Fannie Mae officials during which the possibility of such a lending initiative was explored. Joining Barrett on the tour was Fannie Mae Vice President for Housing Impact Maureen Warren, Fannie Mae Regional Director of Public Affairs Those public information, command information, and community relations activities directed toward both the external and internal publics with interest in the Department of Defense. Also called PA. See also command information; community relations; public information. Ron Laurent, Leo Leo, in astronomy Leo [Lat.,=the lion], northern constellation lying S of Ursa Major and on the ecliptic (apparent path of the sun through the heavens) between Cancer and Virgo; it is one of the constellations of the zodiac. Ries of the Milwaukee Department of City Development, Tricia Geraghty, of Marquette University Marquette University at Milwaukee, Wis.; Jesuit; coeducational; chartered 1864, opened 1881. The school achieved university status in 1907. Among its graduate programs are those in business, engineering, and law. , and Randy Roth of the Historic King Drive Business Improvement District and representatives from Congressman Jerry Kleczka's office. The officials first visited a neighborhoodthat has benefitted from a similar lending initiative, the CityHomes area. The CityHomes area benefitted from the City of Milwaukee's decision to serve as the major equity investor in a project designed to boost home ownership in the area. Barrett then brought the tour to the Avenues West neighborhood, where, Barrett believes, the success of the CityHomes initiative can be duplicated. Finally, the officials visited a section of Martin Luther King Drive where similar opportunity for revitalization exists. "The purpose of all this is to start a focused investment effort designed to revitalize these neighborhoods," said Congressman Barrett. "CityHomes has showed us that success can be achieved and now we need to find more partners willing to commit to helping other neighborhoods flourish." Barrett emphasized that no concrete investment plan is in place, but that the tour will give Fannie Mae officials a better picture of what kind of investment opportunity is out there. "We're in the discussion phase of what might become a major investment effort. We have no commitments except to look at the possibilities and go from there," he said. "I'm particularly pleased that the representatives from Fannie Mae agreed to come here to start these initial discussions." Fannie Mae already plays an important role in the 5th Congressional District Noun 1. congressional district - a territorial division of a state; entitled to elect one member to the United States House of Representatives district, territorial dominion, territory, dominion - a region marked off for administrative or other purposes housing market, financing nearly one out of every five mortgages in the area. In 1998 (through May 31) alone, Fannie Mae has invested $195 million in 2,917 single-family homes and affordable apartments. Fannie Mae is a private corporation, federally chartered to provide financial products and services that increase the availability and affordability for low-, moderate, and middle-income Americans. Monday's neighborhood tour was developed in partnership with officials from the Milwaukee Department of City Development, Select Milwaukee, Marquette University and the Historic King Drive Business Improvement District. For more information about Fannie Mae, please contact Kerri McClimen, communications manager, Fannie Mae Midwestern regional Office at 312/368-6219.
CONTACT: Congressman Tom Barrett
David DiMartino, 202/225-3571
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