[Congressional Record Volume 141, Number 94 (Friday, June 9, 1995)]
[Extensions of Remarks]
[Page E1209]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


   IN RECOGNITION OF THE AWARD-WINNING PARTNERSHIP OF NORTHEAST BLOCK 
            CLUB ALLIANCE AND FIRST FEDERAL SAVINGS AND LOAN

                                 ______


                     HON. LOUISE McINTOSH SLAUGHTER

                              of new york

                    in the house of representatives

                         Thursday, June 8, 1995
  Ms. SLAUGHTER. Mr. Speaker, I rise today to pay tribute to Rochester, 
New York's Northeast Block Club Alliance [NEBCA] and First Federal 
Savings and Loan Association, together one of six partnerships in the 
country to receive the prestigious Social Compact 1995 Outstanding 
Community Investment Award. NEBCA and First Federal were recognized for 
creating First Place, a project that transformed a 5\1/2\ acre city 
block of vacant and deteriorating properties into a vibrant new 
neighborhood. First Place has created new homes for 50 low- and 
moderate-income families by building the first large-scale residential 
housing development in downtown Rochester in 30 years.
  In anticipation of First Federal's 100th anniversary in March 1993, 
president and CEO Thomas N. Borshoff spearheaded an intensive study to 
determine the housing needs of Rochester and target at risk 
communities. After identifying 5.3 acres of a distressed, inner-city 
neighborhood, First Federal acquired 15 vacant properties and worked 
closely with the city of Rochester to reconfigure the area as a future 
residential community. To launch the project, First Federal waived the 
normal developer's fee, provided no-interest construction financing, 
and also agreed to offer 30 year, fixed-rate mortgages to ensure 
affordable monthly mortgages for each borrower.
  First Place also owes a great to NEBCA, which has dedicated its 
energies to serving low- and moderate-income households in Rochester 
since its inception in 1976. Through its social service and housing 
programs, NEBCA has preserved existing housing stock, promoted owner-
occupied homeownership, provided elderly and day care, and organized 
resident participation in crime prevention and community policing 
programs. With the help of First Federal and the city of Rochester, 
NEBCA was able to transform First Place from concept to reality.
  As of March 1995, 29 of 30 homes have been completed and sold, with 
another 15 under construction and expected to be completed this fall. 
Large families who used to live in overpriced, poorly maintained, and 
absentee-owned apartments now have the opportunity to own their own 
quality homes at a monthly cost that is less than their former rental 
payments. In addition to the tremendous strides First Place has made in 
housing, the NEBCA-First Federal alliance has also provided important 
jobs for local minority contractors and established a youth training 
program for high school students. These factors will not only provide 
many of our young people with a skilled trade for the future, but they 
also foster pride and continued commitment to the community, as well.
  Because of these landmark achievements, NEBCA and First Federal were 
rightly recognized by the Social Compact, a coalition of financial 
services CEO's and neighborhood organizations dedicated to promoting 
proven, effective strategies for strengthening America's most 
vulnerable neighborhoods.
  Mr. Speaker, the First Place project has infused a new hope in 
Northeast Rochester, and presented all of us with a model of a 
successful alliance between local government, a community organization, 
and a financial institution. Through close collaboration, NEBCA, 
Rochester, and First Federal removed administrative obstacles, 
streamlined approval processes, and worked directly with residents to 
keep the First Place project on a fast track. Because of their efforts, 
First Place evolved from an initial idea to owner-occupied affordable 
housing in the span of just 2 years. Finally, the success of First 
Place has convinced other cities to take note: discussions are already 
underway in the cities of Buffalo and New York for replication of this 
model project.
  Mr. Speaker, we should all recognize the outstanding NEBCA-First 
Federal partnership and the efforts of the Social Compact. Please join 
me in saluting their service to our cities and our Nation.


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