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U.S. Code as of:
01/19/04
Section 4701. Findings and purposes
(a) Findings
The Congress finds that -
(1) many of the Nation's urban, rural, and Native American
communities face critical social and economic problems arising in
part from the lack of economic growth, people living in poverty,
and the lack of employment and other opportunities;
(2) the restoration and maintenance of the economies of these
communities will require coordinated development strategies,
intensive supportive services, and increased access to equity
investments and loans for development activities, including
investment in businesses, housing, commercial real estate, human
development, and other activities that promote the long-term
economic and social viability of the community; and
(3) community development financial institutions have proven
their ability to identify and respond to community needs for
equity investments, loans, and development services.
(b) Purpose
The purpose of this subchapter is to create a Community
Development Financial Institutions Fund to promote economic
revitalization and community development through investment in and
assistance to community development financial institutions,
including enhancing the liquidity of community development
financial institutions.
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