BCL of Texas Receives $206,000 from NeighborWorks America to Promote Community Development
Austin, Texas – Business and Community Lenders (BCL) of Texas, a statewide non-profit, was recently awarded over $200,000 in grant funds by NeighborWorks® America to revitalize and sustain their service communities, promote and preserve affordable housing for the residents of their service areas, and create or sustain jobs through local projects and activities in the State of Texas.
BCL of Texas will use the funding to expand and continue their small business lending, business development, and homeownership education and counseling services. A portion of the proceeds will also support a commercial retrofit project to reduce energy consumption and promote green practices for non-profits. BCL of Texas was established in 1990 and has been a charter member of NeighborWorks® America for 15 years.
“NeighborWorks America is able to distribute funds on the ground expeditiously, and with careful stewardship and quality control, so that those dollars can immediately be used to improve communities and create jobs,” said NeighborWorks America’s CEO Eileen Fitzgerald. “Just one indicator of the value NeighborWorks America generates is reflected in the fact that in FY 2010 the corporation leveraged its federal appropriation by a factor of approximately $30 to $1 (the amount of investment generated in communities, per dollar of federally appropriated funds) -- resulting in a direct investment of nearly $4.2 billion in distressed communities in fiscal year 2011, primarily from the private sector. As good stewards of taxpayer dollars, NeighborWorks ensures its investments are working in ways that truly make a difference.”
Over the past five years NeighborWorks America and its affiliated network organizations have been able to:
- Invest more than $20 billion in America's urban, rural, and suburban communities;
- Provide homeownership counseling to more than 500,000 families;
- Assist more than 85,000 American families of modest means achieve their dream of home ownership;
- Develop, own and manage over 90,000 units of affordable, high quality multifamily housing;
- Rehabilitate nearly 100,000 homes, using state-of-the-art methods, including green and healthy building techniques;
- Create the nation's largest force of certified homeownership education and foreclosure intervention counselors;
- Mobilize hundreds of thousands of volunteers to revitalize communities; and
- Create or sustain more than 23,000 jobs per year through local NeighborWorks-supported projects and activities.