The Cookson Hills Community Action Foundation has received certification as a Community Development Entity.
“This is the first step in our long range plans to become an active partner in public and private sector economic development in our service area: Cherokee, Adair and Sequoyah Counties,” said Cleon Harrell, executive director. “As a Community Development Entity (CDE), we are now eligible to participate in the New Markets Tax Credit Program and to become a Community Development Financial Institution (CDFI) in the next three to four years. As a CDFI, we will partner with local financial institutions to create opportunities for local entrepreneurs to access capital for local small business enterprises.”
According to the letter from Treasury, certification as a CDE means that an organization meets the eligibility as a legal entity with 501c3 status. They also demonstrate a primary mission of serving, or providing investment capital for, low-income communities or low-income persons.
“This is precisely the mission of the Cookson Hills Community Action Foundation,” Harrell said.
This new capacity means that the agency can attract capital for all kinds of economic development projects, such as affordable housing; industrial recruitment; job training and skills development; and education and training in entrepreneurship for young people and adults in the area, said Charles Gourd, director of Planning and Development.
“My goal is to bring experiences and networks to work here in our community.”
Information: 456-0574.
