(1) many of the Nation's urban, rural, and Native American communities face critical
social and economic problems arising in part from the lack of economic growth, people
living in poverty, and the lack of employment and other opportunities;
(2) the restoration and maintenance of the economies of these communities will require
coordinated development strategies, intensive supportive services, and increased access
to equity investments and loans for development activities, including investment in
businesses, housing, commercial real estate, human development, and other activities
that promote the long-term economic and social viability of the community; and
(3) community development financial institutions have proven their ability to identify
and respond to community needs for equity investments, loans, and development services.
The purpose of this subchapter is to create a Community Development Financial Institutions
Fund to promote economic revitalization and community development through investment
in and assistance to community development financial institutions, including enhancing
the liquidity of community development financial institutions.
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