[Congressional Record Volume 162, Number 62 (Thursday, April 21, 2016)]
[Extensions of Remarks]
[Page E571]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




       IN RECOGNITION OF THE NEHEMIAH COMMUNITY REINVESTMENT FUND

                                 ______
                                 

                          HON. DORIS O. MATSUI

                             of california

                    in the house of representatives

                        Thursday, April 21, 2016

  Ms. MATSUI. Mr. Speaker, I rise today to recognize the Nehemiah 
Community Reinvestment Fund as it celebrates the milestone of 
renovating over 500 properties. I ask my colleagues to join me in 
honoring this great organization for its contributions to the 
Sacramento region.
  The Nehemiah Community Reinvestment Fund (NCRF) is a nonprofit and 
federally-certified community development financial institution (CDFI). 
NCRF provides capital and technical assistance to organizations working 
to revitalize low-income neighborhoods and provide housing, services, 
and jobs to underserved people throughout the United States. Through 
creative, flexible financing and investments, NCRF makes capital 
available to community- and faith-based nonprofits, as well as mission-
based for-profit organizations, that otherwise might be unable to 
obtain needed capital. NCRF was founded by Nehemiah Corporation of 
America, which provided the start-up capital that enabled NCRF to begin 
making loans and investments. In addition to its community development 
loan fluid, NCRF also developed the Nehemiah Sacramento Valley Fund, a 
triple bottom-line, real estate equity fund, to bring market-rate 
capital into low-income neighborhoods in the six county Sacramento 
region.
  In 2010, NCRF launched the Neighborhood Restoration Program in 
response to the foreclosure crisis. The mission of this program is to 
advance community revitalization by providing homeownership 
opportunities for low- and moderate-income families. Building on 
Nehemiah's long history of encouraging and facilitating responsible 
homeownership, Nehemiah acquires properties located in communities that 
are affordable to low- and moderate-income homebuyers. Once acquired, 
each house is renovated to exceed Federal Housing Administration 
lending standards, and marketed for sale exclusively to first time 
homebuyers and low- to moderate-income households.
  In 2012, Nehemiah created Roofs for Troops to benefit the men and 
women who serve and have served our country. Through Roofs for Troops, 
financial institutions donate foreclosed properties to NCRF. Properties 
are renovated to exceed Veterans Administration lending standards and 
are marketed for sale exclusively to veterans and active duty military. 
A percentage of properties NCRF receives and renovates are donated 100 
percent mortgage free to deserving veteran and active duty military 
families. In total, the Nehemiah Community Reinvestment Fund has 
created 500 affordable homeownership opportunities through its 
Neighborhood Restoration and Roofs for Troops Programs.
  Mr. Speaker, as community members gather to celebrate this 
significant milestone for the Nehemiah Community Reinvestment Fund, I 
ask my colleagues to join me in honoring the Fund for its contributions 
and commitment to the Sacramento region.

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