National CAPACD Board Members Participate in White House Briefing

FOR IMMEDIATE RELEASE                              

Contact: Nina Baliga

(202) 223-2442 x 203

(850) 321-2118 cell

January 28, 2009       

 

President Reaches Out to Diverse Audience of Business and Community Leaders on Economic Recovery Plan

Washington, DC - National CAPACD Board Members, Jennifer Iba and Jim Park, were invited to attend today’s White House briefing promoting the economic stimulus plan currently before Congress.  President Obama invited over 40 CEOs, community organizations and local business leaders to stress the importance of passing a bill that will inject billions of dollars into the economy. 

The first part of the briefing conducted by Jason Furman, Deputy Director of the National Economic Council, advocated a second round of funding for the Troubled Assets Release Program (TARP) to increase the dollars available for housing and municipal finance.  The Administration is also promoting http://www.recovery.gov, a website that will be used to communicate to the general public the Administration’s efforts to create jobs and widespread economic recovery.  The bill also provides for the purchase and rehabilitation of foreclosed, vacant properties by local communities in order to create more affordable housing and reduce neighborhood blight.  The American Recovery and Reinvestment Act (H.1. and S.1.) also supports local community efforts to build and rehabilitate low-income housing using green technologies.   

“National CAPACD is honored to both represent National CAPACD’s AAPI members at the White House, and to support the first policy initiative of the new presidential Administration.  We are looking forward to working with the new Administration and Congress to underscore the importance of housing and community development as part of this economic recovery plan,” said Jennifer Iba, National CAPACD Board Member. 

“The American Recovery and Reinvestment Act is a significant first step in supporting the needs of small businesses in communities across the U.S.  This bill will provide over $700 million to stimulate loans for small businesses to promote both job creation and increased investment,” said Jim Park, National CAPACD Board Member and President and CEO of the Asian Real Estate Association of America.
 
Lisa Hasegawa, Executive Director of National CAPACD, “President Obama’s inclusion of our community leaders at this event is a continuation of the partnership we had throughout the transition.  The new Administration’s commitment to transparency is an open door invitation to all of America to be part of the solution.”

The White House Blog on the briefing and full text of Presidential remarks can be found at The White House website.

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Founded in 1998, National CAPACD is the first national advocacy organization dedicated to meeting the housing and community development needs of low-income AAPI communities.  Today, National CAPACD has member organizations in seventeen states and operates program in four core areas:  Leadership Development, Technical Assistance, Policy & Advocacy and Convenings.  Find out more at http://www.nationalcapacd.org