PeopleFund Blog

Oct 222010

PeopleFund’s Ribbon Cutting Ceremony at New Headquarters

Posted by (Mitch) Dominique in Press, Press Releases

For immediate release
October 22, 2010
Contact: Ayleen Pérez / Communications Manager / 512.698.9060

PeopleFund’s Ribbon Cutting Ceremony at New Headquarters

The Meredith Family, Pedro Garza, Congressman Lloyd Doggett and Other Supporters
Celebrate Completion of LEED Silver Certified Center for Economic Opportunity

AUSTIN, October 20 — PeopleFund will host a Ribbon Cutting Ceremony on Wednesday, October 27th from 4pm to 6pm to celebrate the completion of their new state-of-the art, Silver LEED-certified headquarters. A one-stop-shop of opportunity, the Center for Economic Opportunity provides room for PeopleFund to expand its financial services to a greater number of small businesses and low- to moderate-income homebuyers. It also provides affordable office space to small businesses and non-profit organizations.

“PeopleFund’s new headquarters is much more than our new address—it will be a Center for Economic Opportunity for the entire Austin community,” said Jack McDonald, PeopleFund’s Board Chair. “Centrally-located and accessible to all of Austin’s residents, the Center will provide a suite of counseling and technical assistance services to help promising new homegrown companies get up and running. We will offer homebuyer and credit counseling services to bring the dream of homeownership within reach of all working families. A one-stop-shop of opportunity, our new space allows us to offer affordable office space for small businesses and fellow non-profits as we collaborate to ensure that all Texans achieve financial security and independence.”

PeopleFund Board, Staff, supporters and elected officials will gather for the Ribbon Cutting. Congressman Lloyd Doggett (U.S. House of Representatives), Pedro Garza (Regional Director of the U.S. Department of Commerce’s Economic Development Administration), Jack McDonald (PeopleFund Board Chair), Austin Mayor Pro Tem Mike Martinez, and Tom Meredith (MFI Foundation) will make brief remarks. Refreshments will follow the ceremony.

Who: PeopleFund Staff, Board Members, and Friends

When: Wednesday, October 27th
4PM to 6PM (Ribbon Cutting and program begins at 4:15PM)

Where: Center for Economic Opportunity
2921 E. 17th Street
(one block south of MLK, on the corner of Miriam and 17th Street)

Visuals: Representatives from EDA, HUD, City of Austin, and PeopleFund to cut ceremonial ribbon at the entrance to the Center. Guided tours of office spaces also available.

Located between Chestnut Commons and the MLK Light Rail stop, the land for the building was donated to PeopleFund by the Meredith Family and MFI Real Estate, L.L.C. in 2009. “Those who move mountains usually begin by carrying away small stones,” said Tom Meredith. “PeopleFund provides a compelling narrative on how carrying away small stones can have a huge impact. Our family is proud of its relationship with PeopleFund and its focus on bringing ideas, capital and people together to create opportunity and jobs.”

Along with a $1.9 million grant from the U.S. Department of Commerce’s Economic Development Administration, PeopleFund received an additional $500,000 from the City of Austin in Community Development Block Grant Recovery (CDBG-R) funds awarded by HUD (as part of the Recovery Act) for the construction of the building. A host of individuals and businesses also provided contributions to the project. Sustainable Food Center and Theatre Action Project plan to begin construction adjacent to Center for Economic Opportunity for their new headquarters in the near future.

Available for 1:1s

City Council Members in Attendance:

  • Austin Mayor Pro Tem Mike Martinez
  • Council Member Sheryl Cole
  • Council Member Randi Shade
  • Council Member Chris Riley

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About PeopleFund

PeopleFund is a 501(c)3 non-profit organization dedicated to creating economic opportunity through small business loans, affordable housing initiatives, and technical assistance. Since its inception in 1994, PeopleFund has loaned over $23 million to small businesses such as Escuelita del Alma Learning Center, RCR Auto Repair, Ecology Action, Rosy’s In-Home Health Care Services, Blue Dahlia, Juan in a Million and numerous other small businesses. PeopleTrust, an affiliate of PeopleFund, provides affordable homeownership through responsible financing opportunities. PeopleTrust has assisted 135 families achieve homeownership since 2008. For additional information, please visit www.peoplefund.org.

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