Neighborhood Economic Development Corp.

2000 Initiatives

Neighborhood Revitilization

Mesa's low and moderate income neighborhoods are NEDCO's concern. These neighborhoods contain approximately 130,000 persons in the area roughbly boundedby Gilbert Road , Southern, Tempe City Boundary and Mckelleps. Some of the neighborhood organizations in this area include: North Center Revitalization Association, C.A.R.E, CANDO Neighborhood, and Reed Park Alliance.

NEDCO forms collaboratve partnerships among public, private and non-profit entities to maximize organizational and funding capabilities and to implement development projects which improve the economics and quality of life in Mesa's low and moderate income neighborhoods.

Community Loan Fund

Loan for small business and neighborhood economic development projects
--Phase I: Business Development Loan Program:
Arizona
MultiBank CDC and City of Mesa: Marketing Arizona MultiBank CDC loans in Mesa
--Phase II: Direct Lending and Equity-Like Investments-CDFI Business Plan
--Neighborhood Organizations: Technical Assistance on Community Economic Development Projects
--Neighborhood Revitalization Policy: Participation in City of Mesa discussion and research on policy with respect to neighborhood preservation and revitalization.

IDAs

(also known as Individual Development Accounts) are savings accounts for low and moderate income families matched by contributions that can be used for home purchase, business capitalization, and further educationing education.

--Financial Institution Partner: National Bank of
Arizona
--Mesa IDA CollaborativeCommunity Partners: Mesa Community Action Network, Inc., House of
Refuge East, Housing For Mesa, Self-Employment Loan Fund Consumer Credit
Couseling of the Southwest and other

--IDA Match Fund: Mesa United Way, Bashas/Rotary,M. Kulmann, Federal Home Loan
Bank/National Bank Arizona.