NACEDA Launches in Washington D.C.; Names Executive Director

WASHINGTON, DC - March 9, 2007 - A national voice representing local community development corporations, which has been silent in recent years, is about to be heard again in Washington, DC with the launching of the National Alliance of Community Economic Development Associations (NACEDA) and naming of its founding executive director.

Major banks and financial institutions including national community development intermediaries, have provided start-up financial support.

Fifteen state community economic development (CED) associations formed NACEDA in late 2006 to build the CED field by advocating at the federal level for programs that bring jobs, affordable housing and economic development to low-income communities. This is a 30-year old industry, comprised of more than 4,600 entities working on behalf of low-income populations.

"We are pleased to once again have an organized voice representing grassroots Community Development Corporations (CDCs) in our nation's capital" said NACEDA Chairwoman Diane Sterner, also head of the Housing and Community Development Network of New Jersey. "We are also pleased to name an executive director with broad experience in advocacy and community development as well as working with diverse populations in the housing arena to lead our effort in Washington, DC.

First Executive Director Brings 25 Years of Experience

NACEDA named Jane DeMarines, previously Director of External Relations and Development for National American Indian Housing Council, as its first Executive Director. DeMarines brings 25 years of association and nonprofit experience including advocacy, communications and fundraising within the housing and finance arena. Formerly a Vice President at the Mortgage Bankers Association of America, she managed public affairs and created their homebuyer education program. As a lunchtime activity with colleagues, she helped to establish a facility for homeless pregnant women, funded by the MBA in the Adams Morgan neighborhood of Washington. She also worked to expand the low-income housing tax credit program as a Vice President of Congressional and Public Relations for the National Cooperative Bank, which had a community development arm. While there, she was named to chair a Homeownership Committee of external advocates working with the US Department of Housing & Urban Development to expand homeownership opportunities to low-income populations. She currently serves as Vice Chairman of National Neighborhood Coalition, a group representing the issues and interests of low-income neighborhoods.

"I am honored to be the first Executive Director for NACEDA. My members are very talented people who work hard to get funding and programs established at the state level for the 1,200 CDCs that we represent," DeMarines said. "They're in it for the long haul, and are actively involved in community revitalization - and supporting CDCs' work in low-income communities." With major cuts in Community Development Block Grant (CDBG) funds and five million more people entering poverty during the past six years, the needs of low-income communities couldn't be more urgent."

CDCs rebuild distressed communities in rural and urban areas through housing rehab and construction; employment-generating activities; real estate and industrial/business development; and social services. The organization will hold its inaugural conference March 12-14, 2007 at the Washington Plaza Hotel. The conference will include a provocative session on the future of the CED field, meetings with Washington policy makers/experts and Congressional representatives.

NACEDA is extremely grateful to its first supporters, who are helping launch this organization, DeMarines said. These "Charter Members" include:

• Fannie Mae Foundation
• Bank of America
• Enterprise Community Partners
• Housing Assistance Council (HAC)
• JP Morgan Chase Bank
• Local Initiatives Support Corporation (LISC)
• NeighborWorks America,
• Washington Mutual

The conference is being held at the Washington Plaza Hotel, Washington D.C. 20005; Hotel Phone: 1-800-424-1140. Media are welcome to attend certain events. For media questions, please contact janedemarines@aol.com, or 301-229-2077.

• The Future of the CED Field: Is CED an industry or a movement? How do we overcome challenges such as declining funding?
• Reception with Ellen Lazar of Fannie Mae as keynote speaker.
• Washington insiders and experts: Sheila Crowley, National Low-Income Housing Coalition; Steve Tuminaro, NeighborWorks America; Buzz Roberts, Local Initiatives Support Corporation; Ali Solis, Enterprise Community Partners.
• Panels on NACEDA's six main focus areas: Predatory Lending Legislation; Rural Issues; HUD's HOME program; Affordable Housing Trust Fund; Community Development Block Grants (CDBG) and Individual Development Accounts/Asset Development.
• Visits to Capitol Hill to educate Congressional leaders on CDC's important work. This is more vital than ever as Community Development Block Grants, a key source of funding for community development, is facing major budget cuts.

Congratulatory Quotes on Launch of NACEDA

"NACEDA is an important new addition to the voices supporting community-based development across the country. We warmly welcome NACEDA and congratulate your efforts made to organize this vital new organization."
-Michael Rubinger, President and CEO, Local Initiatives Support Corporation

"I want to extend my sincere best wishes to the board, staff, friends and supporters of the National Alliance for Community Economic Development Associations (NACEDA) upon the launch of this important new organization. I want you to know that NeighborWorks America is fully committed to work with you to determine ways in which NeighborWorks America can best support the work of NACEDA and extend its services to further support the important work of your state associations and local CDC members."
-Ken Wade, Chief Executive Officer, NeighborWorks America

"The Housing Assistance Council is proud to be a supporter of the National Alliance of Community Economic Development Associations. Community organizations are essential to improve economic and housing conditions in rural America, where HAC works. I look forward to working with NACEDA to strengthen local community development organizations and to support National policies that tap into the potential of low-wealth communities."
-Moises Loza, Executive Director, Housing Assistance Council, Washington, DC

Strong partnerships and opportunities for collaboration such as NACEDA promises to bring to the economic development field are vital to successful and sustainable community development. Bank of America is proud to support the launch of NACEDA. Elizabeth Ferrer, Global Community Impact National Programs Executive, Bank of America.