[Congressional Record Volume 155, Number 158 (Wednesday, October 28, 2009)]
[Extensions of Remarks]
[Page E2648]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




           HONORING PATHSTONE CORPORATION'S 40TH ANNIVERSARY

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                          HON. ERIC J.J. MASSA

                              of new york

                    in the house of representatives

                      Wednesday, October 28, 2009

  Mr. MASSA. Madam Speaker, I rise today to recognize PathStone 
Corporation (formerly known as Rural Opportunities, Inc.) as it 
celebrates its 40th anniversary. PathStone is a not-for-profit regional 
community development and human service organization headquartered in 
Rochester, NY that provides vital services to low-income areas 
throughout the 29th Congressional District and beyond.
  Its principle lines of business include: Farmworker Training and 
Employment, Housing Development, Homeownership Services and Small 
Business Lending, Training and Technical Assistance. These services 
continue to create substantial economic impact on New York's 29th. 
Critical economic impact metrics for the District include:
  Total value of residential real estate developed: $29,994,942.00.
  Total value of first-time homebuyer mortgages: $29,111,023.00.
  Total value of housing rehabilitation and energy services: 
$4,932,597.00.
  Total value of multifamily preservation: $8,704,000.00.
  Total value of commercial properties: $915,000.00.
  Total number of businesses receiving financing from the PathStone 
Enterprise Center: 106 loans for a total of $2,733,255.80
  Total number of homeowners with foreclosure concerns helped by 
PathStone since March of 2008: 33
  In these difficult economic times, it is encouraging to know that 
beneficial organizations such as this have not only survived the 
downturn, but are continuing to provide their vital services to current 
and new participants.
  On behalf of the United States Congress, I am honored to formally 
acknowledge PathStone and its commitment to the disenfranchised through 
economic empowerment.

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