Neighborworks America Expands Its Presence In Louisiana To Address Pressing Community Needs —Grand Opening Ceremony Held For New Office

For Immediate Release

December 11, 2006
Contact: Lynn Long, NeighborWorks® America, 504-669-0576

NeighborWorks America Expands Its Presence In Louisiana To Address Pressing Community Needs - Grand Opening Ceremony Held For New Office

New Orleans, LA – Today NeighborWorks America held the official grand opening of the organization’s Louisiana office, located at 1515 Poydras Street, Suite 105, in New Orleans. The NeighborWorks Louisiana office will work with local, regional and national partners to help rebuild homes, develop new affordable housing and strengthen Gulf Coast communities devastated by Hurricanes Katrina and Rita. The new office will serve as the home base for the coordination of NeighborWorks rebuilding efforts in the state.

Grand opening of the new Louisiana Office

Attending the office opening, from left, Ken Wade, CEO, NeighborWorks America; Rob Stewart, State Farm; Thomas J. Curry, NeighborWorks America board chair and board member, FDIC; Eileen Fitzgerald, chief operating officer, NeighborWorks America; James Ross, Louisiana management consultant, NeighborWorks America; Don Phoenix, Southern district director, NeighborWorks America; Fred Zeytoonjian Gulf Coast project manager, NeighborWorks America.

Special guests of the grand opening ceremony included Donna Addkison, director of planning and development of the City of New Orleans; Thomas J. Curry, director of the Federal Deposit Insurance Corporation and chairman of the board of directors for NeighborWorks America; Ken Wade, chief executive officer of NeighborWorks America; Rob Stewart, vice president agency of State Farm; and James Ross, Louisiana rebuilding communities management consultant for NeighborWorks America.

“The new office in Louisiana will support NeighborWorks America’s far-reaching strategy to assist affected families and communities. NeighborWorks brings to the table considerable assets in affordable housing production, expertise in housing rehabilitation, and excellent resources in financial and homeownership education. These resources can assist residents navigating the road to housing recovery and are sorely needed in Gulf communities,” said Thomas J. Curry, director of the FDIC and chairman of the board of directors for NeighborWorks America.

NeighborWorks America, a leader in affordable housing and community development, has had a long-standing presence in the Gulf Coast region. Following the 2005 hurricanes, NeighborWorks America committed to expand its presence and increase financial support for organizations in the region to address the overwhelming demand for affordable housing and financial and homeownership counseling and education. To date, NeighborWorks America has contributed nearly $6 million in direct investments and in-kind support and technical assistance, providing pre-development and development support for more than a thousand affordable housing units across the region. In addition, working in partnership with the FDIC, NeighborWorks America created a special consumer resource, Navigating the Road to Housing Recovery, a step-by-step guide to assist Louisiana residents understand their housing recovery options and access resources available through the Road Home program. Hundreds of residents have already received the consumer guide by participating in free educational workshops offered by NeighborWorks America and the FDIC.

“Rebuilding the communities and the spirit of the Gulf Coast continues to be our priority,” said Ken Wade, CEO of NeighborWorks America. “The New Orleans office will be the center of our efforts in Louisiana, enabling us to work more effectively with our local partners to rehabilitate and develop affordable housing, deliver financial education and homeownership counseling, and provide technical assistance and support for the nonprofit community. With the help of our partners, we are empowering affected families and helping to build a better future for generations to come.”

With national and local partners, NeighborWorks America has embarked upon an ambitious initiative — the “Power of 10 [PDF, 212KB]” — in the Gulf Coast. The Power of 10 commitment will enable NeighborWorks® America to achieve the following goals by January 1, 2010:

10 NeighborWorks organizations established throughout the Gulf in Mississippi, Louisiana and Alabama;
10 Housing Resource Centers created across the Gulf region; and 10 strategic partnerships formed,
100 communities in the Gulf region served and 100 scholarships to NeighborWorks Training Institutes provided to nonprofit industry leaders working in the Gulf,
1,000 resident leaders trained in the Gulf region,
10,000 new or rehabilitated affordable homes available for Gulf residents and Katrina-impacted families,
100,000 families preserve or achieve homeownership and protect their financial assets,
$100,000,000 in direct investment, and
$1 billion in leveraged investment in the Gulf region.

About NeighborWorks America
NeighborWorks America provides financial support, technical assistance and training for communities across the nation, including the NeighborWorks network � a nationwide network of more than 240 community development organizations working in more than 4,400 urban, suburban and rural communities across America. These organizations engage in revitalization strategies that strengthen communities and transform lives. In the last five years alone, NeighborWorks organizations have generated more than $10 billion in reinvestment and helped more than 780,000 families of modest means purchase or improve their homes or secure safe, decent rental or mutual housing.

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