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WHEREAS, the Neighborhood Community Development Fund was founded in 2000; and,
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WHEREAS, the Neighborhood Community Development Fund works in partnership with neighborhood organizations and neighborhood business owners to create vibrant communities; and,
WHEREAS, the Neighborhood Community Development Fund promotes community development by providing access to capital, technical, and development support to small businesses, and financing for strategic real estate projects, including affordable housing, to low-income neighborhoods and nonprofits; and,
WHEREAS, the Neighborhood Community Development Fund has issued over $31.5 million in 425 loans and investments since its creation; and,
WHEREAS, the Neighborhood Community Development Fund currently manages a portfolio of 115 loans totaling $7.1 million; and,
WHEREAS, the Neighborhood Community Development Fund awards 60% of its small business loans to minority-owned businesses, in contrast to the fact that only 15% of small businesses in Allegheny County are minority-owned; and,
WHEREAS, the Neighborhood Community Development Fund works to create wealth and employment in low-income neighborhoods throughout Allegheny County; and,
WHEREAS, the Neighborhood Community Development Fund experienced its best year ever in 2022 and plans to continue its rate of growth into the future.
NOW, THEREFORE, BE IT RESOLVED that the Council of the City of Pittsburgh declares Friday, November 18, 2022, the day of the Neighborhood Community Development Fund’s 2022 Annual Community & Business Luncheon, to be the Neighborhood Community Development Fund Day here in our City of Pittsburgh.