July 2006 News & Updates

(Charleston, SC)) – “Wealth creation is the true and sustainable path out of poverty for South Carolina’s poor families and communities,” said Bernie Mazyck, President & CEO of the South Carolina Association of Community Development Corporations (SCACDC). “Strategic investments in community-based economic development is a proven approach to improving under resourced communities and warrants the attention of local and state leaders,” Mazyck added. To present these strategies, The South Carolina Association of Community Development Corporations (SCACDC), U.S. Department of Housing and Urban Development’s (HUD) Columbia Field Office, Fannie Mae’s South Carolina Community Business Center, the U.S. Department of Agriculture – Rural Development, and other collaborative partners present the 2006 Community Economic Development and Housing Summit (Summit 2006). This year’s conference is scheduled for September 12 - 13 at The Francis Marion Hotel, 387 King Street in Charleston, South Carolina. This year’s theme, “Wealth Creation through Housing, Community Economic Development and Beyond!!!,” was selected to underscore the tremendous impact of the community development corporation (CDC) industry and other community initiatives in South Carolina; and the growing importance of wealth building strategies to improving communities and growing local economies.

In addition to powerful breakout sessions, the Summit Partners have attracted two experts in the field of wealth creation, housing and community economic development. James H. Carr is the Senior Vice President for Research for the Fannie Mae Foundation and Paul Kealey is the National Training Director for NeighborWorks America. Both are based in Washington, D.C.

The Fannie Mae Foundation is the largest foundation in the country devoted to increasing the supply of homes for those who need them the most. In Addition to serving as senior vice president of Research at the Foundation, Jim Carr is a visiting professor of urban planning at Columbia University. He is responsible for the Foundation’s housing finance and neighborhood strategies consulting unit, it’s nationally and internationally recognized Office of Housing Research, and its program evaluation activities.
NeighborWorks America is a national nonprofit organization created by Congress to provide financial support, technical assistance, and training for community-based revitalization efforts. As director of NeighborWorks Training Institute, Paul Kealey is responsible for the recruitment and training of over 5,000 individuals annually from around the nation, who then return to their communities capable of educating low-income and minority homebuyers, combating predatory lending, launching small businesses, capitalizing rehabilitation projects and so much more.

The Department of Housing and Urban Development is the principal Federal agency
responsible for programs concerned with the nation’s housing needs, fair housing opportunities,
and improvement and development of the nation’s communities. “Summit 2006 is the optimum opportunity for communication, cooperation and coalition building,” said William Dudley Gregorie, Director - U.S. Department of Housing and Urban Development, Columbia Field Office. “Millions of federal and private dollars are available for community economic development and housing to South Carolina communities and faith-based groups. We want to make sure the community is aware of these resources and have the ability to access them.” “I believe that together, we will develop new ways to work as a community to help more South Carolinians build wealth and receive the services we are charged with delivering, thus improving the quality of life for all,” added Gregorie.

To learn more about the conference call:
843-579-9855 ~ 803-765-5592

Register Today.

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On June 20th, the S.C. Association of CDCs (SCACDC) in partnership with the Federal Reserve Bank of Richmond launched the S.C. Asset Development Collaborative at Benedict College’s Campus Center in Columbia.

About South Carolina Asset Development Collaborative

The South Carolina Asset Development Collaborative (SCADC) is a statewide initiative designed to bring a diverse group of partners together to share and combine resources and strategies in a joint effort to increase savings, wealth building and access to credit among low-wealth residents in South Carolina. SCADC is a new initiative lead by the South Carolina Association of CDCs, the Federal Reserve Bank of Richmond, South Carolina Consumer Affairs Department, South Carolina Commission for Minority Affairs and Benedict College, along with many collaborative partners. SCADC will do the following:

• Convene and collaborate with communities, government, financial institutions, business, institutions of education, public officials, non-profits, trade organizations and advocacy groups with a goal of increasing assets and wealth among low wealth families
• Assist with development and implementation of asset and wealth building policy and programs
• Develop avenues to provide technical assistance, share best practices and new initiatives and networking opportunities for partners of the assets and wealth building collaborative
• Assist with efforts to raise and/or provide funding for partners of the collaborative
• Assist with developing and creating research and training opportunities for partners of the collaborative

Mission of South Carolina Asset Development
Collaborative

To combine resources of public and private partners in joint action to increase savings, wealth building and access to credit among low-wealth residents in South Carolina. The collaborative intends to accomplish its mission through the implementation of three strategies. They are:

1. Launch an effective Earned Income Tax Credit (EITC) Awareness
Campaign to inform eligible taxpayers of their right to claim tax
credits and to bring more of these dollars into low wealth families
and communities. Increase volunteer income tax preparation
assistance to eligible residents

2. Develop strategies to strengthen existing Individual Development Accounts (IDAs) by identifying and securing matching dollars from the private sector and by developing and promoting public policy to supplement the funding of IDAs

3. Develop and implement asset development and protection programs/initiatives to promote tax refund and saving and to restrict abusive payday lending and tax preparation practices