[Congressional Record Volume 144, Number 151 (Wednesday, October 21, 1998)]
[Extensions of Remarks]
[Pages E2267-E2268]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




    HONORING HOWARD F. SOMMER INSTITUTE FOR COMMUNITY LIVING AWARDEE

                                 ______
                                 

                          HON. EDOLPHUS TOWNS

                              of new york

                    in the house of representatives

                       Tuesday, October 20, 1998

  Mr. TOWNS. Mr. Speaker, I rise today to honor Howard F. Sommer for 
service to the Brooklyn community, and congratulate him as a recipient 
of an Institute for Community Living award.
  Since late 1995, Howard Sommer has managed the New York Community 
Investment Company L.L.C. (NYCIC) as its President and CEO. NYCIC, an 
equity investment and loan fund established by the ten member banks of 
the New York Clearinghouse Association, provides growth capital to 
small businesses throughout New York and offers similar risk

[[Page E2268]]

capital to not-for-profits who contribute to economic and community 
development. NYCIC currently has over $25 million under management.
  Formerly, Mr. Sommer was a principal in several privately owned 
corporations involved in related funding activities to the business 
community. For twenty years, he served as President of U.S. Capital 
Corporation and Fundex Capital Corporation-managing in excess of $100 
million in small business investments and loans.
  Mr. Sommer was also active in the federally administered Small 
Business Investment Company (SBIC) program. After several years as a 
board and executive committee member, he served as Chairman of the 
National Association of SBIC in 1994. During that time, he worked 
closely with the Congress, the Small Business Administration and the 
Investment Advisory Council to improve the federal government's efforts 
to assist small business on a national level.
  Earlier in his professional career, he held various management 
positions with IBM and XEROX corporations.
  Mr. Sommer holds a Bachelor's degree in Electrical Engineering form 
the City College of New York and attended NYU's Graduate School of 
Business. He serves as a director of several public and private 
business corporations and, with his wife Arlene, have a long history of 
involvement in charitable causes. He looks forward to continuing his 
support of the Institute for Community Living and the valuable services 
it provides to the people of New York City.
  Mr. Speaker, I would like you and my colleagues from both sides of 
the aisle to join me in honoring Mr. Howard F. Sommer for his 
invaluable service to the Institute for Community Living and the 
Brooklyn community.

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