Economic Development at FHLBanks
h6. FHLB: Atlanta
*PROGRAM:* Economic Development and Growth Enhancement Program (EDGE)
*MEMBER:* Branch Banking & Trust of North Carolina (BB&T Bank)
*RESULT:* In the Shaw neighborhood of Washington, D.C., Emmaus Services for the Aging opened a community space for seniors in a rehabilitated, formerly abandoned home. Nearby, the Dance Institute of Washington built its facility with studios and a childcare center. In Maryland, Joe’s Movement Emporium renovated a warehouse for arts education and studio space.
h6. FHLB: Boston
*PROGRAM:* Community Investment Cash Advance (CICA)
*MEMBER:* Hanover Insurance Group
*RESULT:* The redevelopment of vacant commercial property in a low-income neighborhood of Worcester, Mass., as a new mixed-use space with commercial, retail and residential opportunities.
h6. FHLB: Chicago
*PROGRAM:* Loan Fund
*MEMBER:* Wisconsin Women’s Business Initiative Corporation (WWBIC)
*RESULT:* Eight loans totaling more than $160,000 to small business owners such as Deidra Taylor, owner of Paper Chasers Processing, a 100 percent female- and minority-owned business that has provided legal paper processing to the greater Milwaukee area since 1993.
h6. FHLB: Des Moines
*PROGRAM:* Community Investment Advance
*MEMBER:* First National Bank in Fontanelle, Iowa
*RESULT:* $3 million to assist in the construction of two wind turbines in Greenfield by Wolverine Wind Energy, LLC and Bulldog Wind Energy.
h6. FHLB: San Francisco
*PROGRAM:* Access to Housing and Economic Assistance for Development (AHEAD)
*MEMBER:* Charles Schwab Bank
*RESULT:* In Sparks, Nev., the Nevada Certified Farmers Market Association received a $25,000 grant to establish a permanent, year-round farmers’ market for low-income famers and entrepreneurs.
*MEMBER:* Bank of Marin
*RESULT:* Funding for the Marin City Community Development Association’s workforce training program for low-income residents in the renewable energy field.
Carol Wayman is the federal policy director of CFED. Her e-mail address is email@example.com.