CCEDA SELECTS FAITH-BASED FACE LA TO RECEIVE FREE CONSULTANTS TO BECOME HOUSING CDFI
FOR IMMEDIATE RELEASE
California Community Economic Development Association
January 30, 2023
FACE RECEIVING A FEASIBILITY STUDY BY CITIZENS BUSINESS BANK AT NO COST
Los Angeles, CA (February 9th, 2023) – CCEDA has selected Faith and Community Empowerment (FACE), a non-profit faith-based institution, to receive no cost technical assistance to conduct a feasibility study in the Los Angeles area. FACE is a leading housing development organization in the Asian Pacific Islander community.
Through the feasibility study, CCEDA consultants will work with FACE to review their current homeownership activities and organizational capacity, and to assess the viability of and develop a roadmap for creating a Homeownership CDFI. A feasibility study is a comprehensive analysis that reviews all of the critical features of a proposed project in order to determine the likelihood of it succeeding.
“CCEDA looks forward to working with FACE in facilitating this feasibility study,” said Roberto Barragan, Executive Director of CCEDA. “Sponsored by Citizens Business Bank, this effort to institutionalize faith based community development efforts into a CDFI structure will allow greater homeownership financing and development in the API community. The key priority projects for FACE CDFI projects will be the development of affordable homeownership projects and corresponding housing down payment and other financial assistance for homebuyers.”
FACE’s many community development projects include affordable housing, foreclosure prevention, homeownership education, job training, at-risk youth and youth leadership, plus technical assistance and capacity building to equip faith-based and nonprofit organizations.
Hyepin Im is the President, CEO, and Founder of Faith and Community Empowerment (FACE formerly KCCD) a non-profit organization whose aim is to help churches by connecting them to resources and partners that could help them to create a bigger impact and positive influence in their communities.
“We are grateful to have this support from CCEDA and Citizens Business Bank to help FACE achieve its goal of becoming a CDFI,” said Hyepin Im. “This assistance will allow us to be one step closer to our CDFI certification and our plans to provide additional down payment resources to help homebuyers become homeowners as well as address the housing shortage.”
CCEDA consultants will be providing three to four months of technical assistance and study preparation to the FACE. The study is projected to be completed by April 2023.
About CCEDA
Founded in 1989, California Community Economic Development Association (CCEDA) is a statewide association of non-profit organizations in the community economic development field. CCEDA offers technical assistance and education designed to serve our membership — organizations actively engaged in revitalizing California’s neighborhoods of color.
About FACE
Founded in 2001, FACE serves as a light and bridge between the Asian American community and the greater community at large by connecting and creating private and public collaboration, maximizing the capacities of faith-based organizations and other community non-profits, increasing access to resources and funds, and assisting low-income individuals and revitalizing neighborhoods.
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