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Public-Private Financing Entity will Support Affordable Housing, Revitalization, Small Business Growth, and Asset-Building
Denver Mayor John Hickenlooper, City Council President Michael Hancock, City Councilman Rick Garcia, City Councilman Doug Linkhart and City economic development officials announced today the launch of a new, private, nonprofit community development financial institution (CDFI). Seedco Financial Services of New York City will operate the CDFI, which will work closely with the City on community economic development, including neighborhood commercial revitalization, affordable housing and small business expansion. It will leverage and invest at least $17 million in 2007 alone in local projects to create jobs and stabilize distressed neighborhoods.