Congressman Tim Ryan Announces Federal Treasury Grant for Youngstown Neighborhood Development Corporation

Sep 3, 2014 Issues: Helping Working Families

Washington, D.C. – Congressman Tim Ryan is announcing today a $124,429 grant to the Youngstown Neighborhood Development Corporation from The U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund). The CDFI fund provides support to expand financial products and services that will be available to the Youngstown area and will help our area achieve long term neighborhood sustainability.

Federal support for organizations like Youngstown Neighborhood Development Corporation is essential to making neighborhoods safe and productive," said Congressman Tim Ryan. “In just a few short years, YNDC has started changing the landscapes of our neighborhoods. Their work has never been more important, and I will always be supportive of their efforts.”

"YNDC is excited to be awarded a CDFI Technical Assistance grant from the US Treasury. The grant will build YNDC's capacity to be certified by the US Treasury as a Community Development Financial Institution (CDFI) within two years. Once certified YNDC can further leverage public and private funds to provide critical financial products and services for housing and neighborhood development throughout the City of Youngstown," said Ian Beniston, YNDC Executive Director.

The Youngstown Neighborhood Development Corporation (YNDC) encourages commercial reinvestment to eliminate blight and negative perceptions throughout the city. YNDC works to renovate neighborhoods through long-term investments to increase the quality of life and provide affordable financial products and services to generate pedestrian and commercial activity.