NALCAB Congratulates Community Economic Development Program Awardees

The National Association for Latino Community Asset Builders would like to congratulate its members and Latino serving organizations awarded under the 2017 Community Economic Development (CED) Program.

NALCAB pursues its mission of assisting Latino families, communities, and organizations to build assets by supporting its members with grants and other investments as well as by providing technical assistance in three program areas: small business investment, equitable neighborhood development, and family financial capability.

 The CED program, administered by the Office of Community Services (OCS) of the U.S. Department of Health and Human Services, is a federal grant program funding Community Development Corporations that address the economic needs of low-income individuals and families through the creation of sustainable business development and employment opportunities. CED’s projects create employment opportunities that lead to increased self-sufficiency for individuals with low income through a variety of activities, such as loans or equity investments and capital expenditures, to fund projects such as business incubators, mercados, and agricultural initiatives.

 This year, the OCS awarded over $17.3 million to 25 organizations in 18 states. Four of NALCAB’s members were selected to receive over $2.3 million in funds, which will enable them to address the economic needs of individuals and families with low income through the creation of sustainable business development and employment opportunities in their communities.

 Congratulations to the following NALCAB members:

·         Mandela MarketPlace Inc. – Oakland, CA

·         Mission Economic Development Agency – San Francisco, CA

·         Valley Economic Development Center – Van Nuys, CA

·         Hispanic Economic Development Corporation – Kansas City, MO

The CED program was born out of the War on Poverty, which began in 1964 with the Economic Opportunity Act. CED awards funds to private, non-profit organizations that are community development corporations (CDCs), including faith-based organizations that have a principle purpose of planning, developing or managing low-income housing or community development projects. The CED program also provides technical and financial assistance for economic development activities. 

To learn more about the Community Economic Development grant program, please visit the OCS website at .