As part of an effort to highlight the local impact of the American Recovery and Reinvestment Act (Recovery Act) investments, Treasury Secretary Tim Geithner traveled to the Bronx, New York earlier today to announce $90 million in financial assistance awards for 59 Community Development Financial Institutions (CDFIs) committed to serving economically distressed communities across the nation.
The Secretary made the announcement on Monday, June 29th at 3:00pm at The Point, a recipient of financial support from a New York based CDFI. The Point is a cultural and economic development leader by helping local artists and entrepreneurs establish new businesses and explore economic opportunities.
Among the attendees were Congressman Jose Serrano, CDFI Fund Director Donna J. Gambrell, as well as other elected officials.